Indian Luxury Car Buyers: The Shift from Diesel to Electric
January 28, 2024
Audi
/ BMW
Explore the shift in the Indian luxury car market as buyers move from diesel to electric vehicles. Understand the decline of diesel, the rise of electric, and the future of the luxury car market in India. Switching from Diesel to Electric: A Trend Among Indian Luxury Car Consumers {jistoc} $title={Table of Contents} Introduction Over the past five years, sales of diesel vehicles in the luxury segment have more than halved, with India's affluent class moving away from the traditional fuel that powered their luxury vehicles. The share of diesel in total sales of luxury vehicles in the local market declined to 35% last year, down from about 80% five years ago. The Shift to Feature-Rich SUVs As buyers continue to shift to feature-rich SUVs, sales of electric cars have increased to account for 6% of overall volumes in the segment - three times that of the mass market. This trend is led by young, aspiring consumers who are at the forefront of adopting clean technolo...