India had its watershed moment when it comes to alternatively powered vehicles in FY23. However, they are eating into the share of diesel passenger vehicles (PVs) instead of petrol and CNG-run vehicles. Petrol-powered vehicles still account for more than 70 per cent of the total passenger vehicle sales this fiscal and diesel vehicles make up 18.5 per cent.
The main reasons for growth in petrol passenger vehicle sales are price parity between diesel and petrol, along with the introduction of petrol hybrids as well as more model launches which have a petrol-only option.
