Hyundai Motor India Sees Rise In CNG Vehicle Sales In October 2024

Updated: Thursday, November 21, 2024, 9:48 [IST]

In October, Hyundai Motor India saw a significant rise in CNG vehicle sales, with nearly 40% of Exter's sales coming from CNG variants. The company's overall sales from CNG models reached a record 14.9%, driven by strong demand and an extensive range of entry-level CNG vehicles. Hyundai offers CNG options for the Exter, Aura, and Nios models.

Hyundai's Expanding CNG Portfolio

The introduction of dual CNG cylinders in the Grand i10 Nios and Exter has led to increased sales due to improved boot space and fuel efficiency. Tarun Garg, Hyundai India's COO, stated, "We continuously listen to our customers' feedback. The introduction of Hy-CNG Duo is aimed at meeting customer demands of providing ample space with high mileage and safety. This has helped us achieve the highest-ever CNG penetration of 14.9 percent in October 2024."

In the first seven months of the current financial year (April-October), CNG models accounted for 12.8% of Hyundai's sales volumes. The rural markets have shown a higher preference for these models compared to urban areas. Pune, New Delhi, and Ahmedabad are leading cities where Hyundai has observed strong demand for its CNG offerings.

Market Trends and Future Prospects

During the financial year ending March 2024, Hyundai's overall sales included 11.4% from CNG vehicles. In rural regions, this share rose to 12%, while urban areas saw a share of 10.7%. Garg mentioned that the increasing number of CNG stations across India will further boost sales: "At present, India already has more than 7,000 CNG stations, and the aim is to have approximately 17,500 CNG stations by 2030, which will further fuel the CNG demand."

In October alone, CNG variants made up 17.4% of Grand i10 Nios' sales; Exter saw a contribution of 39.7%, while Aura had an impressive 90.6%. This trend highlights the growing acceptance and popularity of CNG vehicles among consumers.

CNG Market Share: Competitors' Performance

Maruti Suzuki dominates the Indian CNG market with a substantial 72% share and around 12 models in its lineup. Approximately 28% of Maruti's total sales come from these models, with a target to sell six lakh units this year. Tata Motors also reported growth in its CNG segment; during the first half of this financial year, their sales volume reached 21%, up from last year's figure of 16%.

The increasing availability and demand for cleaner fuel alternatives like CNG indicate a shift in consumer preferences towards more sustainable options in India’s automotive sector.