Will Elon Musk-owned EV maker Tesla fail in India? Only …cars sold since debut despite tax cuts
Tesla’s much-hyped India launch has been a flop, with over 100 cars sold since July despite over 600 bookings. High taxes, slow EV adoption, and limited charging infrastructure continue to hinder sales even as rival premium EV makers such as BMW, BYD, and Mercedes-Benz are performing strongly.
Tesla, Electric Vehicle Manufacturer. (File Image)
Elon Musk’s electric vehicle company Tesla has been struggling since its launch in July this year. The electric vehicle maker has sold just over 100 cars so far despite its announced debut. This situation is even more distressing for the US-based EV manufacturer, at a time when competing models in the premium category from brands such as BMW, BYD and Mercedes-Benz are recording strong sales. Automotive industry experts are puzzled as to why sales have not increased despite festive demand and tax cuts due to GST reforms.
Tesla India sales
According to media reports, Tesla received reservations for over 600 vehicles by mid-September. However, only a small portion of bookings were converted into actual sales. Analysts believe that high taxes and slow adoption remain the biggest hurdles to electric vehicle growth in India. The high upfront price of its cars is another challenge for the Elon Musk-owned EV.
Tesla vs BMW BYD Mercedes India
But Tesla’s India president Sharad Agarwal told the BBC that buyers could get compensation of up to 20 lakh rupees (a third of the price of the Model Y sold here) on fuel and maintenance costs over four years. He said: “Most [maintenance] Servicing is done remotely via software updates, reducing the cost of ownership. “The cost of charging at home is one tenth of the price of gasoline.”
Tesla home charging India
The EV market in India is still small; It accounts for less than 3% of passenger vehicle sales. Additionally, charging infrastructure is growing at a slow pace, with only around 25,000 charging stations in the country. An additional advantage for Tesla in this regard is that this EV can be charged at home, adding a range of up to 70 km per hour. Additionally, the company is expanding its network, including superchargers that can travel nearly 170 miles in 15 minutes.
