Petrol, diesel sales fall ahead of start of festive season
Petrol sales by three state-owned fuel retailers fell 9 per cent year-on-year, the first drop in two months. Diesel consumption dropped 3.2 per cent.
Petrol sales by three state-owned fuel retailers fell 9 per cent year-on-year, the first drop in two months. Diesel consumption dropped 3.2 per cent.
This is even as the company remains steadfast on meeting the mid-term target of EVs contributing 25% to its total sales by 2027, Mercedes-Benz India managing director and chief executive Santosh Iyer told ET.
Demand for diesel, the most consumed fuel in the country accounting for about two-fifths of the demand, fell 15 per cent to 2.96 million tonnes in July 1-15, compared to the year-ago period.
Fleet sales are expected to grow by over 40% this financial year, though it will still be short of the peak of 225,000 units sold to fleet operators in FY19. Overall sales of passenger vehicles are expected to grow by 5-7% this fiscal.
The agency raised its EV sales forecasts in part because of the U.S. Inflation Reduction Act, which supports green industry and subsidises consumers' purchase of electric vehicles (EVs), IEA executive director Fatih Birol said on a media call.
The company, which currently sells ZS EV in the country, has unveiled a two-door electric vehicle 'Comet' which it plans to introduce in phase wise manner across the country starting next month.
The first XC40 Recharge was delivered in November 2022 and has garnered multiple honours in a variety of categories for its great design, innovative technology, and environmental efficiency.
Higher-than-expected sales growth was driven by execution tailwinds in the infrastructure projects segment and sustained growth momentum in its IT & TS (technology services) portfolio.
The EVs sold in Delhi this year already constitute 18.6 per cent of all EVs registered in the capital till date. Sales first saw a major jump in 2016 with 21,690 EVs sold, compared with the 3,565 registered a year ago.
People are now eyeing renewable energy sources, thanks to the shortage and skyrocketing price of electricity. Solar energy happens to be the cheapest form of renewable energy and people are showing renewed interest in buying solar power units.
Europe sold more new electrified vehicles than China for the first time in 2020 and between them the two markets are home to more than 70 per cent of the 9.9 million electrified cars sold so far, the study shows