Hybrid Car Sales Soar in 2024: A Green Revolution in Motion.

As many as 23,394 strong hybrid vehicles were sold in the June quarter, a 62.5% surge from a year earlier.

Key Drivers:

• Government Incentives: Incentives announced by the Uttar Pradesh government on strong hybrids, adding to its existing financial support to full electric vehicles are among factors stirring interest in hybrids.

• Rising Fuel Costs: With petrol prices remaining high, consumers are increasingly turning to hybrids for their superior fuel efficiency.
• Technological Advancements: Major automakers like Toyota and Honda have introduced advanced hybrid models, blending performance with sustainability.
• Market Share: Hybrids now account for around 7% of the total car market, with expectations to rise to 15% by 2025.

Several companies in India are significantly benefiting from the growing hybrid car market:

1. Maruti Suzuki India Ltd. (Listed)
2. Toyota Kirloskar Motor Pvt. Ltd.
3. Honda Cars India Ltd.

These companies are leveraging the hybrid trend to capture market share and boost revenues in India.