ACE acusensus limited.

china to raise petrol prices

  1. 6,757 Posts.
    Great news for ACE. Story below on what happened after India raised prices recently.


    http://www.engineerlive.com/oil-and-gas-news/20314/oil-price-hike-ups-demand-for-cnglpg-cars.thtml

    Oil price hike ups demand for CNG/LPG cars

    In order to cater to the growing demand for such cars and also to cash in on this opportunity, vehicle manufacturers in the country have launched CNG/LPG variants of their existing models.

    However, according to Tarun Bisht, automotive analyst with independent market analysis firm Datamonitor, the lack of support infrastructure such as an inadequate number of filling stations can hamper the growth of these cars in the country.

    There are over 354,000 CNG vehicles in India and majority of these vehicles are located in Mumbai and Delhi. However, there has been growing demand for these vehicles in tier II cities like Vijayawada, Vadodara, Agartala, Kanpur, Bareli and Lucknow. The demand for CNG vehicles is not just limited to government mandated taxis and other public transport means, as in New Delhi, but an increasing number of private buyers are also opting for this alternative.

    Leading car manufacturers such as Maruti Suzuki and Hyundai are providing CNG variants of their most preferred car brands. Hyundai has recently introduced the CNG variant of its mid-size Sedan 'Accent' to cater for the increasing demand of CNG/LPG fitted vehicles and more manufactures are going to follow suit.

    Though there is a surge in demand of CNG fitted vehicles, the support infrastructure is relatively weak with only a limited number of gas filling stations in India. Eyeing the prospective demand for CNG stations, the state-run gas transporter Gas Authority of India (GAIL) Ltd is planning to invest US$8 million in setting up CNG stations along highways and has also identified 230 cities for the city gas distribution project.

    It is also pouring showers for conversion kit manufacturers and fitters in India. The sales of LPG/CNG kits to original equipment manufacturers (OEMs) grew by nearly 50 per cent in 2007, the much larger after-sales retrofitting market is also growing at over 10 per cent every year.* Although till recently, most of the fitments were done in small cars, there has been an increase in the number of fitments done in luxury or sedan vehicles.

    In the broader perspective, the demand for CNG fitted vehicles in India will increase as there is an ongoing surge in international oil prices. This, in future, is likely to result in a favourable impact on growth of CNG/LPG fitted vehicles in India. With companies like GAIL and Reliance, making huge investments, in the near future this is expected to remove the infrastructural bottlenecks.
 
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