New Delhi . More than 8 out of 10 people in India prefer hybrid vehicles over electric vehicles (EV). A survey conducted on Monday revealed that Indian customers prefer premium models.
According to a Grant Thornton India survey, 40 percent people now prefer hybrid vehicles, while only 17 percent prefer EVs. About 34 percent still prefer to buy petrol vehicles.
According to Saket Mehra, partner and auto and EV industry leader, Grant Thornton India, the festive season typically accounts for 3040 per cent of annual sales. This time is very important for the Indian automotive industry.
“However, inventory levels, weatherrelated issues and regional elections have slowed growth this year. Despite these challenges, sales as of early October are up 3035 per cent on registrations compared to September,” he said. Which can be considered a good sign.”
Consumers are also expected to get substantial discounts this festive season, so the industry has a good opportunity to increase demand.
Mehra said that in the long run, economic growth and rising incomes will further strengthen the outlook for India's passenger vehicle market.
With the increasing adoption of hybrid vehicles, they are expected to act as a bridge. Where they take care of the comfort of consumers with alternative technology. In this way, the adoption of electric vehicles is expected to accelerate in the future.
The report said this trend highlights the need for automakers to focus on both hybrid and electric to meet changing customer expectations and prepare for a sustainable automotive future.
Total domestic sales grew by just 0.5 percent in the first half of FY2025. This continued demand for SUVs and UVs reflects the growing consumer preference for different types of vehicles.
“Auto manufacturers have an opportunity to meet growing consumer demand through substantial festive discounts, with nearly 90 per cent of people expecting such offers,” Mehra said.
Additionally, digital platforms are playing an increasingly important role in the car buying process, with 74 percent of consumers using social media and car websites for research, up from 56 percent two years ago. However, final purchases largely take place offline.
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Image Credit: KhasKhabar.