What’s the story
Hybrid vehicles are swiftly gaining market share in India, as per data from consultancy firm Jato Dynamics. Hybrid transmission, which combines an electric motor and a fossil fuel-powered engine, made up 2.48% of India’s total passenger vehicle market in the first quarter of 2024. This is hot on the heels of electric vehicles (EVs), which held a 2.63% share during the same timeframe.
Market leaders
Maruti Suzuki and Toyota spearhead sales
Maruti Suzuki and Toyota are at the forefront of the hybrid vehicle sales boom, offering several sought-after models. Other automakers, including Hyundai and Kia, are reportedly contemplating the introduction of their own hybrid models. Industry experts forecast that hybrid vehicle sales could outstrip EV sales as early as this fiscal year (FY), signaling robust demand for these vehicles.
Eco-friendly choice
Hybrid vehicles: A viable answer to vehicular pollution?
Apart from Maruti Suzuki, Toyota, only Honda is selling hybrid vehicles in India. Despite the recent surge in popularity of EVs due to heightened awareness about vehicular pollution, hybrids are now presenting significant competition. A primary concern for potential EV buyers is the restricted vehicle range owing to inadequate battery recharge facilities, especially outside city limits. On the other hand, hybrid vehicles are being recognized for their low emissions and high fuel efficiency.
Technological advancement
Toyota’s also leading with its self-charging hybrid tech
Toyota is presently leading the hybrid vehicle segment with its pioneering self-charging hybrid electric vehicle technology. This breakthrough allows cars to operate on either electric mode or fossil fuels, or a combination of both. Vikram Gulati, executive VP at Toyota Kirloskar Motor, states that these “strong hybrids” can cover 40% of distance on electric mode with the petrol engine switched off, enhancing fuel efficiency by 40-50%.
