NEW DELHI: Declining price gap between petrol and diesel is likely to accelerate shift towards petrol and CNG cars in the domestic passenger vehicle (PV) segment in the coming years, rating agency ICRANSE 0.82 % said on Wednesday.
According to an analysis by ICRA, diesel PV’s share is expected to decline to 15-18 per cent in 2021-22 from 29 per cent in 2019-20, the rating agency said in a statement.
During this period, the share of diesel vehicles in the car segment will stabilise at around 5-7 per cent from 11 per cent, whereas the utility vehicle (UV) segment’s share will gradually reduce to sub-40 per cent from 65 per cent, it added.
