Rising gas prices have reduced CNG penetration in commercial vehicles to 9-10 percent in the new fiscal from 16 percent . The penetration of compressed natural gas (CNG) vehicles in the domestic commercial vehicle (CV) market has decreased in the current fiscal year .
New Delhi (New Delhi): Icra Ratings reports that rising gas prices have reduced CNG (Compressed natural gas) penetration in commercial vehicles to 9-10 percent in the new fiscal from 16 percent.According to a statement released by Icra, the penetration of compressed natural gas (CNG) vehicles in the domestic commercial vehicle (CV) market has decreased in the current fiscal year, particularly in the MCV (Medium Commercial Vehicle) truck segment, which has been the key disincentive, it said.In the wake of a rise in CNG penetration, the percentage of passenger carriers and buses is expected to decrease from 38 percent in FY2022 to 27 percent in the first eight months of FY2023.