In the festive season, you are going to get options to buy cheap CNG vehicles. Due to the skyrocketing price of petrol and diesel and the viability crisis of electric vehicles, auto companies have put emphasis on CNG vehicles. Many automobile companies in the country including Tata are preparing to introduce new vehicles running on CNG fuel in this festive season.
Representatives of auto companies say that electric vehicles are definitely going to be the first choice of consumers in future, but at present they need a vehicle that can provide relief from expensive petrol and diesel. Therefore, the trend of consumers has increased rapidly towards CNG vehicles. In view of this demand, the auto industry has put its emphasis on CNG vehicles.
Country’s largest automaker Maruti Suzuki expects to sell around three lakh CNG vehicles in the current financial year due to the increased demand for CNG vehicles. The company first started selling CNG vehicles in 2010. Since then, it has sold more than eight lakh CNG vehicles.
Tata Motors to launch multiple CNG vehicles
Tata Motors is all set to launch CNG versions of many of its popular petrol model vehicles soon to increase the market share. Tata plans to launch CNG versions of its hatchbacks and sedans priced below Rs 8 lakh.
Rapid increase in market share
The market share of CNG vehicles has increased rapidly due to the low operating cost of CNG vehicles as compared to petrol and diesel vehicles. The market share of CNG vehicles from 4% to 5% in FY2018 has increased from 6% to 6% in FY21. At the same time, the sale of diesel vehicles has decreased by 35 percent during this period.
Good car sales
Major auto majors Hyundai and Honda Cars expect the demand for cars to remain strong in the festive season after improving market conditions. These companies said that the restrictions imposed due to Kovid-19 in most states have now been removed. In such a situation, the festive season is expected to be good for car companies. These companies say that due to the epidemic, now more and more customers want to buy their personal vehicle. Hence, sales are expected to remain strong during the busy festive season. Rajesh Goel, Senior Vice President and Director (Marketing and Sales), Honda Cars India said that the market sentiment has improved after the lifting of the Kovid-19 curbs. Goyal said that the industry is preparing to launch some new models. This will help in achieving better sales figures.
Tesla bluntly, first start production
Electric car maker Tesla has demanded a reduction in import duty on electric vehicles in India. The government has responded to this issue. The Ministry of Heavy Industry has asked Tesla to first start manufacturing its electric vehicles in India, only then can it consider any tax exemption. Government sources said the government is not giving any such exemption to any auto company and giving tax relief to Tesla will not send a good message to other companies investing billions of dollars in India.
