New Delhi [India], October 28 (ANI): Grant Thornton Bharat's latest survey, Shifting Gears: Understanding Passenger Vehicle Market Trends, reveals significant shifts in consumer preferences during the festive season, indicating a transformation in India's automotive landscape. With 85 per cent of respondents expressing an interest in premium vehicles and a notable rise in the preference for hybrid vehicles over electric vehicles (EVs), the survey marks a turning point for the industry. Also Read | Kannur ADM Naveen Babu Death: BJP Workers Stage Protest March Demanding CPI Leader PP Divya's Arrest in Abetting Suicide of Officer.
Consumers are now exploring both luxury and sustainable options, signalling a new era for the Indian automotive sector. The survey highlights that 40 per cent of respondents favour hybrid vehicles, a significant increase from previous years, compared to just 17 per cent opting for EVs. Also Read | 'Singham Again' vs 'Bhool Bhulaiyaa 3' Box Office Battle and Comparison With Bollywood's Three Big Diwali Film Clashes.
Meanwhile, 34 per cent continue to prefer petrol-powered vehicles, underscoring the market's transitional nature. The growing inclination toward hybrids suggests that while consumers are exploring sustainable alternatives, many remain cautious about fully committing to EVs, largely due to the need for more robust charging infrastructure and incentives. Consequently, hybrid vehicles are expected to play a crucial role as a bridge technology, .