Hyundai Motor India has achieved a milestone in October 2024 by recording its highest-ever CNG vehicle sales, with CNG models accounting for 14.9% of the company's domestic sales. This notable increase is largely due to the introduction of the 'Hy-CNG Duo' system in the Grand i10 Nios and Exter models. The dual-cylinder setup of this system enhances boot space and fuel efficiency, addressing key consumer preferences.
Tarun Garg, Chief Operating Officer of Hyundai Motor India, stated, "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."
The company's CNG vehicle sales have been on an upward trajectory, with the April-October 2024 period showing a 12.8% contribution of CNG models to total sales. This growth is supported by the expanding CNG refueling infrastructure in India, which currently boasts over 7,000 stations, with plans to reach approximately 17,500 by 2030. This development is expected to further boost the demand for CNG vehicles.
In October 2024, the penetration of CNG variants in specific models was as follows:
- Grand i10 Nios: 17.4%
- Exter: 39.7%
- Aura: 90.6%
These figures underscore the growing consumer preference for CNG options across Hyundai's model range.
Geographically, the demand for Hyundai's CNG vehicles is robust in both urban and rural markets. As of October 2024, urban penetration of CNG models stood at 12.3%, while rural markets exhibited a higher penetration rate of 14.6%. The top three cities for CNG vehicle sales during the January to October 2024 period were Pune, New Delhi, and Ahmedabad, with Maharashtra, Gujarat, and Uttar Pradesh leading in state-wise sales. Hyundai's strategic focus on expanding its CNG portfolio aligns with the broader industry trend, as other major automakers like Maruti Suzuki and Tata Motors also report increased CNG vehicle sales. Maruti Suzuki, for instance, has set a target of selling 600,000 CNG vehicles in the current fiscal year, up from 489,000 units in the previous year. Tata Motors has also witnessed a rise in CNG vehicle penetration, reaching 21% in the first half of the fiscal year, up from 16% in the previous year. Hyundai Motor India's commitment to enhancing its CNG offerings reflects a strategic response to evolving consumer preferences and environmental considerations, positioning the company to capitalize on the growing demand for alternative fuel vehicles in the Indian market.
