fuel price: Amid rising fuel prices, cars with lower running costs likely to gain higher traction among buyers- vehicle fuel prices in the country have increased by 35 percent in the last 15 months.

New Delhi
Vehicle fuel prices in the country have increased by 35 percent in the last 15 months. This has also led to a significant increase in the overall cost of operating the vehicle. In such a situation, it has been said in a report that the demand for vehicles with higher fuel efficiency (higher average) and lower maintenance cost will increase among buyers in the country. The HSBC Global Research report said that the demand for such vehicles, especially in the sub-Rs 10 lakh category, will increase, which will have lower operating and maintenance costs.

The report says, “Fuel prices have gone up by 35 per cent in the last 15 months. As a result, the cost of owning and operating a vehicle is increasing. The conversations we have conducted show that consumers are concerned about the hike in fuel prices.” Citing the example of the petrol model of Maruti Suzuki’s Swift, the report said that the cost of fuel for this compact vehicle will increase over the life span. The share will sit at 40 percent. By mid-2020 it was 30 percent.

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Maruti tops the top average car
HSBC Global Research said, “Our analysis shows that Maruti continues to be the market leader in both fuel efficiency and total cost of ownership (COO).” Vehicles with high fuel efficiency and low maintenance cost will increase among the buyers. This will be especially the case in the vehicle category which is priced below Rs 10 lakh.