PV CNG Share in Vehicle Sales Triples in 3 Years as Top OEMs Aim for Market Edge

PV CNG Share in Vehicle Sales Triples in 3 Years as Top OEMs Aim for Market Edge - Terence West

The market share of CNG-powered vehicles in India has increased significantly over the past three years.

In 2019, CNG cars accounted for about 3.5% of total vehicle sales, which has now risen to 11% in 2022. This growth can be attributed to various factors such as a reduction in CNG prices, the introduction of new CNG models, and the adoption of strategies by leading automakers.

The rising popularity of CNG cars can be attributed to their lower operating costs and reduced carbon emissions compared to traditional petrol or diesel vehicles. With the recent cut in CNG prices, consumers find CNG cars more economical and environmentally friendly.

Additionally, the government’s push for cleaner and greener transportation has also contributed to the increased demand for CNG vehicles.

Recognizing this trend, top original equipment manufacturers (OEMs) in India are strategizing to gain a competitive edge in the CNG market.

They are introducing new CNG models and enhancing the availability of CNG infrastructure, such as fuel stations and service centers, to cater to the growing demand. OEMs are also investing in research and development to further improve the efficiency and performance of CNG vehicles.

The increased market share of CNG cars is expected to continue growing in the coming years as more consumers prioritize eco-friendly and cost-effective transportation options. With the advancement of technology and the availability of a wider range of CNG models, the adoption of CNG vehicles is likely to accelerate further.

In conclusion, the market share of CNG-powered vehicles in India has tripled in the past three years. This growth can be attributed to factors such as lower CNG prices, the introduction of new CNG models, and the strategies implemented by top automakers.

The increasing demand for eco-friendly and economical transportation options has driven the popularity of CNG cars, and the trend is expected to continue in the future.