Riding on rising demand for CNG vehicles, Tata aims to double its sales
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Tata Motors is planning to double the share of CNG vehicles in its overall sales in the financial year 2023-24, an ETAuto report said. This comes on the back of healthy consumer demand for CNG vehicles, which have grown in popularity because of the high prices of petrol and diesel. Moreover, an increase in the number of CNG pumps has also attracted customers towards CNG.
The launch of Tata's premium hatchback with a CNG fuel option and the difference in the prices of petrol and CNG is helping the sales, the company told ET. With Altroz's CNG variant in the picture, Tata Motors' Managing Director Shailesh Chandra told ET that the company expects 10-12 per cent of sales to come from the CNG variants of the Altroz for the financial year 2024.
Chandra was quoted in the report as saying, "Despite gas prices going up, sales of CNG vehicles went up by 50 per cent in the last financial year, overall car sales rose 27 per cent in the same period. There continues to be a substantial price differential between CNG and petrol. That, along with several new launches in the segment, is making customers take a long-term view and opt for CNG variants."
Much like Maruti Suzuki, Tata Motors is also trying to cater to the needs of all kinds of customers and is offering various fuel options in multiple cars. Currently, Tata offers its Tiago, Tigor, and Altroz with a CNG option. With its CNG vehicles, Tata is betting on the mass market that looks for affordable fuel options.
As per Tuesday's prices, CNG costs Rs 73.59 per kg in Delhi and Rs 79 per kg in Mumbai. On the other hand, petrol was sold at Rs 96.72 in Delhi and Rs 106.31 in Mumbai on Tuesday.
Chandra said that most customers take into consideration the long-term cost and value proposition while buying a vehicle. He said that CNG vehicles make a strong case in terms of the value they offer and with the growing network of CNG dispensing stations, consumers feel confident buying a CNG car.
"The share of CNG vehicles in the overall sales in the automobile industry will grow further", Chandra added.
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