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CNG Vehicle Sales In India Reach 607,287 Units: Maruti Suzuki Secures 72% Market Share
Retail sales of CNG vehicles in India have reached a new peak, driven by festive demand and significant discounts from manufacturers. The cumulative sales from January to October 2024 stand at 607,287 units, marking a 43% increase compared to the previous year. This surge has surpassed the total sales of 590,000 units recorded in CY2023.
Maruti Suzuki's Dominance in the CNG Market
Maruti Suzuki continues to lead the CNG market with a substantial share of 72%, having sold 433,033 units this year. The company offers an extensive range of 13 CNG models, recently adding the fourth-generation Swift to its lineup. In October alone, Maruti Suzuki achieved its highest monthly sales with 70,281 units.
Tata Motors' Impressive Growth
Tata Motors has emerged as a strong contender in the CNG segment, securing third place overall after Maruti Suzuki and Hyundai. With innovative twin-CNG-cylinder technology standardised across its models like Tiago, Punch, Altroz, and Tigor, Tata Motors sold 16,586 units in October. This brings their total for January-October 2024 to 94,374 units, reflecting a remarkable 104% year-on-year growth.
Hyundai's Efforts to Regain Market Share
Despite facing competition from Tata Motors and Toyota, Hyundai has managed to achieve its best-ever monthly CNG sales in October with 9,725 units. However, their market share has dipped slightly to 10.12% from last year's 12.12%. To boost sales further, Hyundai introduced a new base variant of the Aura CNG and launched the Grand i10 Nios hatchback with a dual-cylinder setup.
Toyota's Expanding Portfolio
Toyota Kirloskar Motor is also making strides in the CNG market with impressive growth. In October, they sold their highest-ever monthly total of 2,800 CNG vehicles. Over the past ten months, Toyota's sales have doubled to 12,355 units compared to last year's figures. Their expanded portfolio now includes four models: Taisor, Glanza hatchback, Urban Cruiser Hyryder and Rumion MPV.
The latest Vahan data reveals that retail sales of CNG-powered vehicles reached nearly 100,000 units by November 3rd this year—a notable increase from October's figure of nearly 60 thousand units last year. This performance highlights India's growing preference for cleaner fuel options amidst rising environmental concerns.
Maruti Suzuki aims high for FY2025 by targeting over six hundred thousand CNG vehicle sales—a projected growth rate of thirty-eight percent compared to FY2024's numbers. In just seven months (April-October), they have already achieved retail sales exceeding three hundred ten thousand units.
Overall industry trends indicate that while Maruti Suzuki maintains dominance within India's burgeoning compressed natural gas sector; competitors like Tata Motors are rapidly gaining ground through technological advancements such as twin-cylinder systems which enhance efficiency without compromising space or performance capabilities across various model ranges including Tiago Punch Altroz Tigor among others offered under this brand umbrella today!
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