India’s highway transport minister on Tuesday warned native and international automakers to both lower manufacturing of polluting diesel automobiles or face larger taxes and levies, setting alarm bells ringing on the earth’s third-largest automobile market. From a report: Listed below are some details about India’s automotive market, the largest after China and the US, the place gamers reminiscent of Maruti Suzuki, Tata Motors and international giants reminiscent of Mercedes and Volkswagen function. In India, about 4 million passenger automobiles had been bought within the fiscal 12 months that led to March, in line with information from the Society of Indian Car Producers.
Petrol automobiles have been the highest sellers in recent times — growing their market share to round 68.4% in January-July 2023 from 42.5% in 2014, in line with information from automotive market intelligence supplier JATO Dynamics. Price-conscious Indians are preferring to purchase petrol vehicles as they’re cheaper than diesel, though diesel vehicles provide higher gas effectivity. Within the luxurious section, although, which incorporates vehicles and SUVs made by Mercedes, BMW and Audi, petrol variants have accounted for 62% of gross sales to this point this 12 months, down from 68% in 2021, in line with JATO Dynamics.
Tuesday’s warning from minister Nitin Gadkari focused diesel carmakers, whose market share has seen a gradual decline to just about 18% of passenger automobiles in January-July this 12 months from 47.9% in 2014. However with regards to luxurious vehicles, diesel variants stay in vogue, with their market share rising to 33% to this point this 12 months from 31% in 2021.
