Petrol Vehicles Dominate India's Auto Market, But EVs and CNG Growing

Petrol vehicles are the top sellers in India's auto market, increasing market share to 68% in 2023 from 42% in 2014.
Diesel vehicles have declined to 18% market share in 2023 from 48% in 2014, but still popular among luxury cars.
Electric vehicles account for just 2.4% of sales currently, but government wants 30% EV sales by 2030.
Tata Motors leads India's small EV market, while Tesla considers entering.
Vehicles running on compressed natural gas account for 11% market share, up from 9% in 2014.

reuters.com

Relevant topic timeline:

7/27/2023

The Electric: EV Makers Eye India as Their Next Big Market

- Major automakers have largely shunned India when it comes to investing in electric vehicle (EV) assembly plants and battery gigafactories. - However, some leading industry players, including Tesla, Byd, Fisker Motors, Nissan, and Renault, have shown interest in manufacturing EVs and batteries in India. - India has become the world's third-largest auto market and surpassed China as the most populous nation. - The Indian government recently blocked Byd's proposal, potentially due to geopolitical tensions between India and China. - Tesla CEO Elon Musk has expressed optimism about India's EV potential, stating that it has "more promise than any large country in the world."

8/22/2023

Traders Are Betting On A Tightening Global Diesel Market

Diesel prices have surged due to lower inventories of middle distillates in the US and Europe, with hedge funds betting on higher prices amid concerns about reduced supply and increased demand. Refining margins have also strengthened as a result of tighter supply of crude and fuels.

8/25/2023

Exclusive: With Tesla push, India mulls import tax cut if EV makers build locally

India is considering a new electric vehicle policy that would significantly reduce import taxes for automakers, potentially allowing Tesla to enter the market at a reduced tax rate as low as 15%.

8/28/2023

Rising diesel prices a 'hidden tax' on consumers as energy stokes inflation worries

Diesel prices in the US have reached their highest levels since March and are expected to continue rising due to refinery disruptions and increased demand during the fall agricultural harvest season and winter heating months, posing challenges for retailers and putting upward pressure on prices.

8/31/2023

India is one of the world's fastest-growing EV markets. This is why

India is seeing a significant rise in the adoption of electric vehicles, particularly two- and three-wheelers, driven by a $1.3 billion federal plan, rising fuel costs, and awareness of the long-term cost benefits, as well as efforts to reduce emissions and improve air quality.

9/4/2023

BMW: Gasoline Car Ban Poses “Imminent Risk” To European Automakers

The EU's plan to ban new gasoline and diesel vehicles by 2035 poses a significant risk to European car manufacturers who may struggle to compete with Chinese EV manufacturers in a price war, according to BMW chairman Oliver Zipse.

9/22/2023

Russia's Diesel Export Ban Could Spike Prices and Inflation in Europe

Russia's decision to ban diesel exports to most countries, including the European Union, could lead to higher diesel prices and a possible uptick in inflation in Europe, as Russia is the world's biggest exporter of diesel accounting for over 13% of global supply.

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Posted 9/12/2023, 1:53:00 PM