CNG vehicle sales continued their traction during the month of September with CNG sales at an all-time high of 61K – up 71% YoY. CNG vehicle registration in Gujarat Gas’ geographical areas were very strong at 13,487 - 32% MoM, 91% YoY and overall CNG adoption increased to a record level of 28% driven by better performance across segments. CNG vehicle registration in MGL’s geographical areas were very strong at 6,777 - 6% MoM, 41% YoY . IGL meanwhile reversed six-month positive trend. CNG vehicle registration in IGL’s geographical areas were very strong at 11,770 – Down 10% MoM. Analysts believe With petrol/diesel prices not reducing any time soon, CNG’s attractiveness to continue and that high car registrations give guarantee of continued volume growth for CGD cos.
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