Updated February 7th, 2024 at 12:13 IST
Maruti Suzuki's CNG market share rises to 69%: MoRTH
Maruti Suzuki expects to see its green vehicle, especially CNG vertical sales to account for a third of its total sales
CNG Vehicle: Maruti Suzuki leads in CNG vehicle sales with 69 percent market share after seeing a 29 per cent rise in sales to 2,51,620 units during the April 2024-January 2024, from the 2,82,634 units in the same period last fiscal year, according to the VAHAN website.
The top automaker's CNG auto segment sales could translate into best-ever fiscal sales of an estimated 4,75,000 units by March 2024, as per media reports.
Currently, there are 23 CNG cars and SUVs on sale in India, with the New-Delhi headquartered Maruti Suzuki boasting of the biggest portfolio of 13 models, followed by Tata Motors with four models and Hyundai and Toyota Kirloskar Motor with three models each in this segment.
By the end of this decade, Maruti Suzuki expects to see CNG vehicles account for a third of its total sales, as per an Auto Car India report.
Tata Motors CNG sales
Tata Motors, which has overtaken Hyundai when it comes to CNG sales, possibly due to the introduction of its Punch CNG in August 2023, has retailed a total of 64,972 CNG cars and SUVs in the first 10 months of FY24, consolidating its market hold at 18 percent.
Recently, Tata Motors also revealed the CNG automatic variants of the Tiago and Tigor, which are available for bookings for the same. Tiago and Tigor are 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 company said, citing media reports. The planned introduction of the Nexon CNG model is a step in that direction.
Hyundai Motor CNG sales
Meanwhile, Hyundai Motor India has sold 41,806 CNG cars and SUVs, and currently has a 11.46 percent market share, as per the Ministry of Road Transport and Highways (MoRTH) website.
The month-wise data revealed by MoRTH showed that between April 2023 and July 2023, Hyundai, with 13,881 units sold, was ahead of Tata Motors' 12,166 units.
However, the launch of the Punch CNG helped Tata outsell the Korean carmaker in the next six months.
Toyota Kirloskar Motor, which has recently entered the CNG market with the Glanza hatchback, Urban Cruiser Hyryder SUV and the Rumion MPV, has sold a total of 6,064 units in the first 10 months of FY2024, with a 1.66 percent market share.
CNG segment trends
The sustained growth of the CNG segment is also why manufacturers are gradually expanding their product portfolios to include CNG variants.
Since FY15, 21 lakh CNG passenger vehicles (PVs) have been sold in India, with 52 per cent, 11,04,645 units, having been sold in the past four fiscal years since FY21.
Other than allowing considerable savings compared to its petrol or diesel-engined siblings, the driving force of this consumer shift to CNG models is the high price of petrol, Rs 106.29 a litre in Mumbai, and diesel, Rs 94.25 a litre in Mumbai today.
The slashing of CNG prices in early April came in as a huge respite to motorists using CNG-powered vehicles at Rs 76 per kg in Mumbai, CNG is Rs 30.29 cheaper than petrol and Rs 18.25 cheaper than diesel.
Published February 7th, 2024 at 12:13 IST