1 / 8Diesel Dilemma: Nitin Gadkari, Minister of Road Transport and Highways of India, has issued a stern warning to both local and foreign automakers. According to a Reuters report, they have been told to reduce the production of polluting diesel vehicles or face increased taxes and levies. This has caused concern in the world’s third-largest car market. (PTI Photo)
2 / 8Automotive Giants: India’s automotive market is the largest after China and the United States. It is home to major players such as Maruti Suzuki, Tata Motors, and foreign giants like Mercedes and Volkswagen. (Reuters Photo)
3 / 8Petrol Preference: About four million passenger vehicles were sold in India in the fiscal year ending in March. Petrol vehicles have been the top sellers in recent years, with their market share increasing to around 68.4% in January-July 2023 from 42.5% in 2014. Despite diesel cars offering better fuel efficiency, cost-conscious Indians prefer petrol cars because they are cheaper. (Reuters Photo)
4 / 8Luxury Lure: In the luxury segment, which includes cars and SUVs made by Mercedes, BMW, and Audi, petrol variants accounted for 62% of sales so far this year, down from 68% in 2021. (Reuters Photo)
5 / 8Diesel Decline: The minister’s warning was aimed at diesel carmakers. Their market share has steadily declined to nearly 18% of passenger vehicles this year from 47.9% in 2014. However, diesel variants remain popular in the luxury car market, with their market share rising to 33% this year from 31% in 2021. (Reuters Photo)
6 / 8Taxi Trend: Many private taxis, utility vehicles, and trucks in India still run on diesel due to its fuel efficiency. Among automakers, Mahindra and Mahindra have the highest diesel car market share with 47% of unit sales this year, up from 28% in 2021. (Reuters Photo)
7 / 8Electric Evolution: Electric vehicles (EV) accounted for just 2.4% of India’s car sales in January-July. However, the government aims for them to reach 30% by 2030. Tata Motors leads India’s emerging EV market. (Reuters Photo)
8 / 8Natural Gas Niche: Vehicles that run on compressed natural gas (CNG), preferred by cab operators in India, have seen their market share rise to 11.4% in January-July from 9% in 2014. (Reuters Photo)
