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Summary:

According to the Grant Thornton Bharat study, Indian consumers are increasingly interested in luxury and sustainable car alternatives. It found that 85% of respondents are considering premium car models, with hybrid vehicles attracting 40% of the attention, compared to 17% for electric vehicles (EVs). Meanwhile, 34% favor petrol automobiles. This development indicates a transition toward sustainability, but customers are still waiting for improved EV infrastructure and incentives.

 

Mr. Saket Mehra, Partner and Auto & EV Industry Leader at Grant Thornton Bharat, emphasized the necessity to adapt to changing customer demands. The festive season is essential for the Indian car sector, accounting for 30-40% of yearly sales. However, challenges such as excessive inventories, weather delays, and regional elections have slowed growth this year. Despite a slight 0.5% increase in domestic sales in the first half of FY25, demand for utility vehicles (UVs) and SUVs remains high, up 13% year-on-year.

 

Source: IBEF

 

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