CNG share in PV sales up 3X in 3 years; top OEMs strategise for market edge
The CNG-powered passenger vehicle (PV) sales have increased 31% from 1.02 lakh units in 2019 to 4.21 lakh units in 2022. Currently, four major OEMs offer a total of 23 CNG models. With better availability of supplies, new CNG model launches, strengthening of CNG infrastructure and the reduction in CNG prices, the CNG penetration is expected to grow from about 11% in 2023 to 18% in 2027.
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