EV Sales India: Now the trend of car buying in India is changing rapidly. Troubled by expensive petrol and diesel, the middle class is now shifting towards cheaper and cleaner options. This is why electric, hybrid and CNG There has been a tremendous jump in the sales of cars running on petrol.
Sales increased at twice the speed of the auto industry
In the last financial year, sales of these alternative fuel cars reached about 13.4 lakh units, which is 31% more than last year’s 10.2 lakh units. At the same time, total passenger vehicle sales increased by 13% to about 46.7 lakh units. This means that it is clear that people are rapidly moving towards clean mobility.
Expensive fuel and bad air became the reason
India has heavy dependence on imports of oil and gas. At the same time, due to the ongoing crisis in West Asia, fuel prices have increased. The government also had to cut taxes to keep petrol and diesel cheap. Apart from this, due to increasing pollution and expensive fuel in cities, people are now looking for such options which:
- go cheap
- be better for the environment
West Asia War to Give Push
Industry experts believe that this trend will further accelerate due to the West Asia crisis and stricter emission regulations. Ashim Sharma of Nomura Research Institute says, “First and foremost, economics itself is driving up sales of CNG, hybrid and electric vehicles,” According to him, better infrastructure and entry of new models are also promoting this growth.
Tremendous preparation of companies in EV and CNG
According to Tata Motors MD Shailesh Chandra, “Industry momentum is expected to sustain, led by growth in SUVs, CNG and EV,”
- 20% increase in sales of CNG cars
- EV sales cross 2 lakh units mark
- Tata Motors’ EV sales rise 43% to 92,000 units
Speed will increase due to entry of new cars
Maruti Suzuki is also not behind in this race. The company has launched its first electric car and has said that the demand for CNG is strong. Many new models are going to come in the market in the coming time, like:
- Maruti Suzuki e-Vitara
- Mahindra XEV 9e
- Tata Punch EV
Additionally, Toyota Kirloskar Motor and Kia India are also preparing to launch new EVs.
The coming time of EV?
At present the share of EV in India is around 4%, but it is estimated that by the end of the decade it may increase to 13-15%.
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