The reports available on the VAHAN website reveal that around 3 lakh CNG cars were sold in the first 10 months of FY2024 which resulted in a 29 % increase in last year's units. As per the reports, it could go up to 4,75,000 units by March 2024. There are 23 CNG cars and SUVs on sale in India, with market leader Maruti Suzuki having the biggest collection of 13 models. This is followed by Tata Motors, Hyundai, Toyota Kirloskar Motor.
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Maruti Suzuki Dominates CNG Market with 69% Share
As reports by Tata Motors recently revealed the CNG automatic variants of the Tiago and Tigor are open for booking which made the Tiago and Tigor the first factory-fitted CNG vehicles to get an automatic. By 2026, Tata is targeting the share of CNG cars and SUVs to grow from the existing 14 percent to 25 percent. The planned introduction of the Nexon CNG model is a step in that direction. Hyundai Motor India has sold a total of 41,806 CNG cars and SUVs and currently has an 11.46 percent market share. As per reports by VAHAN's website reveals that between April 2023 and July 2023, Hyundai, with 13,881 units sold, was ahead of Tata Motors' 12,166 units. Recently launched Toyota Kirloskar Motor in the CNG market has sold a total of 6,064 units in the first 10 months of FY2024, with a 1.66 percent market share.
CNG: India's fastest-growing segment
There is growth in the CNG segment is also why manufacturers are gradually enlarging their product collection to include CNG variants. Since 2015, 21 lakh CNG passenger vehicles have been sold in India. There was a peak in CNG prices in early April at Rs 76 per kg in Mumbai, CNG is Rs 30.29 cheaper than petrol and Rs 18.25 cheaper than diesel. The Bharat Mobility Global Expo 2024, meant to be a innovative event aimed at showcasing India's prowess in the mobility sector, has concluded its first edition on a forceful note. The Minister of Commerce & Industry, Piyush Goyal, announced on the final day that the immensely successful expo would now become an annual affair. Expressing optimism for the future of the mobility sector, Goyal stated, “This marks a significant milestone within the mobility sector, representing a crucial threshold for success. The annual extension of the Bharat Mobility Global Expo is expected to contribute significantly to the growth and development of the mobility ecosystem in India. The event will continue to serve as a platform for industry stakeholders, policymakers, innovators, and enthusiasts to converge, exchange ideas, and drive the evolution of mobility solutions.
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Ruled by the 7C's framework, the expo seems to have emerged as a platform that showcased the latest innovations and also facilitated meaningful collaborations among industry leaders, policymakers, innovators, and stakeholders. The unveiling of a diverse range of electric, hybrid, CNG, and biofuel-powered vehicles underscored the Indian automotive industry's unwavering commitment to driving innovation and progressive growth.
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