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Maruti Suzuki Dominates Indian CNG Market With 73% Share: Over 4.5 Lakh CNG Models Sold In FY2024
Maruti Suzuki, India's leading automaker, has achieved a significant milestone by selling over 4.5 lakh CNG models in the financial year 2024, capturing a 73 percent market share in this segment.
The company's focus on alternative fuels, as a towards minimizing its environmental impact, has led to an ambitious target for the next fiscal year. Maruti Suzuki aims to sell over 6 lakh CNG vehicles in FY2025, which would mark a growth of more than 30 percent from the previous year.
This initiative places Maruti at the forefront of the CNG vehicle market expansion in India. The CNG vehicle market in India saw a record-breaking year in FY2024, with sales crossing the 500,000 mark for the first time, largely thanks to Maruti Suzuki's robust sales.
The company's CNG sales constituted about 25 per cent of its total sales in the same period. R C Bhargava, chairman of Maruti Suzuki, shared with the media that the company plans to continue promoting CNG sales across the board.
This includes not only boosting the sales of CNG cars and SUVs but also adopting gas for electricity generation in its manufacturing operations. Maruti Suzuki's significant contribution to the CNG market is evident from the overall market performance. In FY2024, the CNG vehicle market grew by 15 per cent, reaching a total of 6.24 lakh units.
Maruti Suzuki saw a more than 50 per cent increase in sales, with 4.55 lakh units. The company offers the widest range of CNG vehicles, from the Alto K10 hatchback to the Grand Vitara SUV, with prices starting at Rs 5.74 lakh and going up to Rs 14.96 lakh (ex-showroom, Delhi).
The growth in the CNG market has also been supported by other manufacturers like Tata Motors and Hyundai Motor India, alongside the expansion of city gas distribution networks across the country.
The Indian government's target of establishing 10,000 CNG stations by 2030 further underscores the nation's commitment to enhancing the infrastructure for alternative fuels, supporting Maruti Suzuki's vision and efforts in promoting CNG vehicles.
DriveSpark Thinks
Maruti Suzuki's strategic push towards CNG vehicles aligns with the broader automotive industry's shift toward cleaner, more sustainable fuel alternatives. As the company gears up to meet its ambitious sales target for FY2025, Maruti Suzuki continues to lead the way in the adoption of CNG vehicles in India, contributing significantly to the country's environmental sustainability goals.
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