Sales of CNG and hybrid vehicles rise as EVs face challenge – report .

During the January-April 2024 period, CNG volumes surged by 46 percent year-on-year (YoY), while hybrid vehicle sales rose by 19 percent, and electric vehicle (EV) sales grew by 7 percent. Despite a global slowdown in EV sales, emerging markets like India are witnessing an influx of new EV models across various price ranges, signaling a potential acceleration in adoption.

Challenges Facing Electric Vehicles

The Indian market for zero-emission passenger cars is evolving, though charging infrastructure remains a challenge. Automakers are increasingly investing in electric vehicles, yet many consumers do not view them as an immediate solution to pollution. High costs and limited range for affordable models continue to hinder broader adoption.

Consumer Preferences Shift to CNG and Hybrids

Currently, CNG and hybrid vehicles are gaining popularity among consumers. The positive growth in the auto industry, which saw a 6 percent increase in sales, can be attributed to the introduction of new CNG models and flexible financing options for EVs. The central government is also promoting CNG and hybrids as viable alternatives to electric vehicles.

Future Prospects for EVs

As Tata Motors expands its EV lineup and brands like Maruti Suzuki, Hyundai, and Mahindra prepare to enter the mid-size EV space by 2025, the market dynamics are set to evolve further. It remains to be seen how consumers will embrace these changes in the coming years.