India’s car market is witnessing a rapid shift towards alternative fuels, with compressed natural gas (CNG) vehicles leading the surge, closely followed by hybrids, while electric vehicles (EVs) continue to struggle to achieve widespread adoption. According to a report by the Economic Times, despite a global push for electric mobility, EVs in India are lagging in comparison to CNG and hybrid cars.
Indians prefer CNG and Hybrid over regular EVs
Data from Jato Dynamics reveals that between January and August 2024, CNG car sales in India jumped by an impressive 46% year-on-year, while hybrid vehicles saw a 19% increase. In contrast, EV sales grew by only 7% during the same period. Overall, car sales in the country rose by 6%, reaching 2.87 million units. The trend is reflected in the new vehicle launches, with a majority being CNG models, followed by hybrids and electric cars.
To stimulate demand for EVs, automakers like Tata Motors and MG Motor have introduced aggressive pricing strategies, offering more financing options, battery-as-a-service models, and free charging incentives. However, these efforts have not yet resulted in significant EV adoption. Experts point to infrastructure challenges and high initial costs as key barriers to EV growth in India.
Union Minister Nitin Gadkari has acknowledged the competitiveness of EV pricing but also suggested that consumers explore other clean fuel alternatives. This signals a broader government focus on promoting multiple forms of sustainable mobility, rather than relying solely on electric vehicles.
via Moneycontrol
