CNG industry sales jump 38% to 940,000 units in first 11 months of FY2024

With a 43% contribution to overall CNG vehicle sales between April 2023 and February 2024, the passenger vehicle industry with 402,433 units and 32% YoY growth has the largest share of the CNG vehicle industry.

With this, CNG PV sales have raced past FY2023’s record sales of 327,820 units. At this pace, and with March 2024 still to be counted, India CNG PV Inc is likely to register its best-ever fiscal sales of around 450,000 units and more.

What has helped accelerate sales is the rollout of new models and SUVs. The launch of the Tata Punch CNG compact SUV (Rs 710,000-Rs 968,000 ex-showroom) was Tata Motors’ response to the introduction of theHyundai Exter CNG compact SUV (Rs 824,000-Rs 897,000, ex-showroom). In early February 2024, Tata Motors launched the Tiago and Tigor CNG AMT. While the Tiago iCNG AMT is priced between Rs 790,000 and Rs 880,000, the Tigor iCNG AMT ranges from Rs 885,000 to Rs 955,000.

This takes the total number of CNG cars and SUVs sold in India to 23 models. There are only four CNG carmakers in India. Maruti Suzuki India, with all of 13 models (Alto K10, Baleno, Brezza, Celerio, Dzire, Eeco, Ertiga, Grand Vitara, S-Presso, Swift, Wagon R, XL6, and the Fronx), understandably, has a vice-like grip on the market. In the ongoing fiscal, Tata Motors is ahead of Hyundai Motor India. While Tata Motors has four models (Altroz, Tigor, Tiago, Punch), Hyundai Motor India’s CNG range has expanded to three models now (Aura, Grand i10 Nios, Exter) and Toyota Kirloskar Motor has three CNG-powered passenger vehicles (Glanza, Hyryder, Rumion).