India's leading carmaker, Maruti Suzuki, announced on Monday that bookings for its compressed natural gas (CNG) vehicles have surged by approximately 40% following a series of domestic fuel price hikes.
The sharp spike in consumer demand for alternative fuel options comes after state-owned fuel retailers in India raised retail prices for both petrol and diesel at least four times throughout the month of May. The aggressive price hikes were implemented by energy companies to recoup mounting financial losses driven by soaring global crude oil costs, which have faced intense upward pressure due to the ongoing war in Iran, News.Az reports, citing Reuters.
As conventional fuel costs pinch consumer wallets, Indian drivers are increasingly turning to Maruti Suzuki's extensive lineup of factory-fitted CNG models to offset rising daily commuting expenses.
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