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regular-article-logo Thursday, 29 February 2024

Hybrid vehicles score over EVs in sales race in three months despite duty subsidies

'The growth in EV seems to have tapered off. Hybrid as a concept is catching up. Customers are now realising that hybrids too have a large fuel efficiency, don't have a heavy acquisition cost and are environmentally friendly too,' said Shashank Srivastava from Maruti Suzuki India

Anasuya Basu Calcutta Published 04.12.23, 10:28 AM
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Representational image File picture

Hybrid vehicles have outsold electric vehicles (EVs) in the past three months, despite the duty subsidies to EVs as the chosen path to carbon neutrality by 2070.

Hybrids languish in the not-so-favoured list with a higher GST, though it is low-emission technology.

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While EVs attract 5 per cent GST (goods and service tax), hybrids are taxed 43 per cent GST. However, on average battery electric vehicles (BEVs)s are more costly than hybrid cars.

In the first quarter of the fiscal, sales of EVs stood at 25,800 units against the sales of hybrids at 14,400 units.

In the second quarter, sales started to catch up: hybrids sold 22,000 units, while EV sales were 23,900 units.

However, in August hybrids sold 7,787 units against 7,484 for EVs.

In September, 8,259 units of hybrids were sold against 7,658 for EVs;

In October, 8,673 units of hybrids against 7,224 units of EVs were sold. In November, hybrid sales were 7,094 units against and 6,763 units of EVs.

As many as 16 EV models are available in the country against four hybrids —
Grand Vitara, Toyota Urban Cruiser Hyryder, Honda City and Toyota Innova Hycross. Yet customers seem to tilt towards the hybrids.

"The growth in EV seems to have tapered off. Hybrid as a concept is catching up. Customers are now realising that hybrids too have a large fuel efficiency, don't have a heavy acquisition cost and are environmentally friendly too," said Shashank Srivastava, senior executive officer, Maruti Suzuki India, Ltd.

Electric vehicles are 1.5 times more expensive than Internal Combustion Engine (ICE) vehicles, while hybrids are 1.28 times more expensive.

Hybrids can be refuelled at petrol pumps and have no range anxieties.

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