A research on shifting consumer preferences in India’s automobile sector was published by the New Auto section of the CarDekho Group. The study shows that car usage of EVs and CNGs continues to rise gradually; traffic on EV platforms is up 26 percent year on year. This expansion is fuelled by the emergence of an EV ecosystem in India and the emerging shift of focus on ‘green’ mobility solutions. CNG vehicles also experienced a 17 per cent YoY growth in traffic, becoming the second most popular fuel choice after petrol. This pivotal moment reflects the industry’s readiness to embrace a more dynamic and forward-thinking automotive ecosystem in India, said Mayank Jain, CEO of New Auto (CarDekho Group)
This was driven by the launch of key models with CNG variants that raised CNG’s total retail market share from 17 per cent in October 2023 to 21 per cent in October 2024. Overall, petrol and hybrid vehicles recorded a 3 per cent YoY increase in platform traffic but differing dynamics within the segment. New registrations of petrol vehicles were down by 3 per cent, although there was a dramatic 80 per cent YoY rise of hybrid vehicles in retail sales. The report reflects the industry’s readiness to embrace a more dynamic and forward-thinking automotive ecosystem in India.
This report also mirrored the industry’s preparedness to foster a more innovative and progressive auto ecosystem in India. Diesel automobiles have seen a 14 per cent YoY fall in platform traffic because of subdued emission standards, existing 10 year usage bans in some areas, as well as higher acquisition costs. However, legislative actions across the world leading towards reduction of emissions and use of cleaner fuel types along with safety and code compliance standards of CNG vehicles have pushed up this trend.
