Alternative-fuel passenger vehicles fast catching up with petrol ones
Alternative-fuel vehicles, including CNG, hybrid, and electric models, are nearing a 50% market share in India's passenger vehicle sector. Data from July shows a rapid consumer shift away from petrol-only vehicles due to lower running costs and new model availability.
Why it matters
The rapid adoption of alternative powertrains in a major emerging market signals a significant shift in global automotive manufacturing and energy consumption patterns.
NEW DELHI: Alternative-fuel passenger vehicles are on the verge of overtaking petrol-powered models in India, with CNG, hybrid and electric vehicles accounting for 40.6% of passenger vehicle retail sales in July, just behind petrol’s 41.7%, according to data released by the Federation of Automobile Dealers Associations (FADA) Thursday. The gap has narrowed sharply from 13.2 percentage points a year ago to just over a percentage point, reflecting a rapid shift in buyer preferences.The trend came as India’s automobile retail market recorded its strongest-ever July performance, with overall registrations rising 25.8% year-on-year to a record 25.9 lakh units.
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