Hyundai Motor India bets big on CNG models, sees growing demand across rural & urban markets
Hyundai Motor India Ltd is betting big on CNG fuel option with sales of models equipped with the technology witnessing increasing demand across rural and urban markets in the country, according to a top company official.
The company, which currently offers CNG variants in three models – Grand i10 NIOS, AURA, and EXTER – has seen the share of CNG models in its domestic sales rise to 11.4% in FY24, up from 9.1% in FY22.
From April to October this fiscal year, the share of CNG models in the company’s domestic sales has increased to 12.8%. During this period, its total vehicle sales across all fuel types in the domestic market reached 3.54 lakh units.
«At present, India already has more than 7,000 CNG stations and aim is to have approximately 17,500 CNG stations by 2030 which will further fuel the CNG demand,» HMIL Whole-time Director and COO Tarun Garg said on the reasons behind the company's bullishness on CNG models.
With a view to increase CNG vehicle sales, HMIL introduced the 'Hy-CNG Duo' — with a dual-cylinder system offering ample boot space and higher fuel efficiency — in its EXTER and Grand i10 NIOS models.
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