The penetration of CNG models in Hyundai’s sales volumes during the current financial year (April-October) now stands at 12.8%.
18 Nov 2024 | 3651 Views | By Ketan Thakkar & Kiran Murali
Backed by an expansive portfolio and growing demand for CNG vehicles, Hyundai Motor India registered its highest penetration of gas-based models at 14.9%, in October 2024.
The company introduced its “Hy-CNG Duo” model in Grand i10 Nios and Exter-- which recorded incremental sales numbers due to the variants' dual-cylinder ...
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Backed by an expansive portfolio and growing demand for CNG vehicles, Hyundai Motor India registered its highest penetration of gas-based models at 14.9%, in October 2024.
The company introduced its “Hy-CNG Duo” model in Grand i10 Nios and Exter-- which recorded incremental sales numbers due to the variants' dual-cylinder system that offers better boot space and higher fuel efficiency.
“We continuously listen to our customers' feedback and are cognisant of their aspirations. 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% in October 2024,” said Hyundai India’s Chief Operating Officer Tarun Garg.
Apart from the Grand i10 and Exter, Hyundai also offers a CNG variant for AURA. The penetration of CNG models in Hyundai’s sales volumes during the current financial year (April-October) now stands at 12.8%. Pune, New Delhi and Ahmedabad are the top three cities where Hyundai witnessed strong demand for CNG models.
During the previous financial year, penetration of the CNG model was at 11.4%. Rural markets have seen Hyundai’s CNG model penetration improve rapidly over the years to 12% while penetration in the urban market is at 10.7%.
In October, the CNG penetration for Grandi10 NIOS was at 17.4%, while it was 39.7% for EXTER and 90.6% for AURA. Going forward, Garg noted that the increase in CNG stations across the country will further boost the sales of CNG models.
“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,” he said.
Most of the major mass-market passenger vehicle makers are now betting big on the CNG portfolio as part of their multi-powertrain strategy.
Maruti Suzuki is the largest player in the CNG segment with around 72% market share. With around 12 CNG offerings in its portfolio, gas-based models account for approximately 28% of its sales. The automaker has set a target of selling 6 lakh CNG models this year.
For Tata Motors, CNG models accounted for 21% of its sales volume during the first half of the current financial year, up from 16% in the year-ago period. The company eyes CNG powertrain penetration to be 25% of its sales by the end of the decade.