CNG Vehicles Leading the Market Boom

It appears that India is moving towards sustainability as many consumers have been preferring alternate fuel cars like Compressed Natural Gas (CNG).

Economic Times reported that Similarly, hybrids witnessed 19% growth and EVs registered 7% growth.

ET citing Jato Dynamics noted that CNG car sales in India surged 46% year-on-year, between January and August 2024.

Similarly, hybrids witnessed 19% growth and EVs registered 7% growth.

The total car sales registered a growth of 6% to 2.87 million units in the same period.

Also, automobile companies have been coming up with more CNG models, followed by hybrids and electric vehicles.

Amid rising CNG sales, EV car manufacturers are slashing prices and giving more flexible finance options, among other benefits. Experts believe that limited infrastructure and high initial acquisition costs are a few factors hampering the sales of EV cars.

Union Minister Nitin Gadkari also suggested people to consider other fuel alternatives in addition to EVs.

CNG being cost effective is preferred by gig workers and small businesses.

There is also demand for hybrid car models but the only drawback is that they come at a higher price.