Indian car buyers trade up selectively as CNG, EVs gain ground over fuel; SUV growth reshapes price ladder

Indian passenger vehicle sales have shown a pronounced shift towards higher price bands and alternative fuel options. The ₹12 lakh-20 lakh segment grew significantly, while lower segments experienced a slight decline. Petrol vehicle registrations decreased, with CNG and electric vehicles gaining market share. Compact SUVs have become increasingly popular, reflecting changes in consumer preferences and technology advancements.