CNN Central News & Network-ITDC India Epress/ITDC News Delhi: At a VinFast-hosted forum in Vietnam, journalists, industry experts and automakers agreed that winning mainstream buyers will require more than cheaper electric cars.
Before the Iran conflict sent fuel prices soaring, India's electric passenger vehicle market was already building momentum, driven in part by growing consumer awareness and a shift in how families make car-buying decisions.
Experts broadly agree that growing concerns over air pollution in cities such as Delhi, combined with increasing awareness of climate change, are shaping consumer attitudes toward electric vehicles. They also note that car purchases in India are typically family decisions, with children playing an increasingly influential role. Younger family members are often drawn to the modern, stylish designs of EVs, which can further encourage households to choose electric models.
The conflict simply reinforced a trend that had been gathering pace, as more consumers began weighing not just what a car costs to buy, but what it costs to own.
According to the Federation of Automobile Dealers Associations (FADA), India retailed a record 31,823 electric passenger vehicles in June, more than double the volume a year earlier and enough to lift EV penetration to 7.7% of passenger vehicle sales, up from 4.8% a year ago . Alternative-fuel vehicles, including EVs, hybrids and CNG models, accounted for more than 40% of passenger vehicle sales for the first time.
Yet despite the rapid growth, electric cars remain a minority choice in a country where more than four million passenger vehicles are sold annually. The opportunity is enormous, but so is the gap between consumer interest and actual purchases. The question now is what will persuade millions more mainstream buyers to make the switch.
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