UGC Approved Journal no 63975(19)

ISSN: 2349-5162 | ESTD Year : 2014
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Published in:

Volume 10 Issue 2
February-2023
eISSN: 2349-5162

UGC and ISSN approved 7.95 impact factor UGC Approved Journal no 63975

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Published Paper ID:
JETIR2302008


Registration ID:
507994

Page Number

a52-a54

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Title

Impact Of Rising Fuel Prices on EV Sales in India

Abstract

There is rising levels of air pollution all over the world and especially India has 6 cities in 10 most polluted cities in the world (1). The Indian government has expanded the market for Electric-Vehicles by bringing in schemes like FAME (Faster Adoption and Manufacture of Electric (Hybrid) Vehicle As per FAME -22 Scheme both direct subsidy to Electric two wheel purchases and battery charging is provided. Added to it the rising Fuel prices has further pushed the world towards a faster EV adaptation. The Russia-Ukraine war, COVID-19 & cartelization by OPEC countries were some of the concerns too. India suffers from a huge current account deficit which is majorly contributed by the Import bills of crude oil. (25% of India’s import is of crude oil costing about US$ 119billion and India’s CAD for current year is $13.4 Billion). To avoid this problem of dependence on crude oil, the Government of India is pushing for a faster EV adoption using schemes like FAME-II. With rising demand for EVs, Automobile sector in India is now focusing more on EV production. In this paper the area of focus will be towards the rise in EV sales in India with respect to rise in Fuel prices year on year. This paper looks into the relationship between fuel prices and Auto sales and using innovative Fibonacci series make sales growth forecast for Electric 2 wheelers.

Key Words

Automobile sector, FAME, OPEC, Import bills, Current account deficit

Cite This Article

"Impact Of Rising Fuel Prices on EV Sales in India", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.10, Issue 2, page no.a52-a54, February-2023, Available :http://www.jetir.org/papers/JETIR2302008.pdf

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2349-5162 | Impact Factor 7.95 Calculate by Google Scholar

An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 7.95 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator

Cite This Article

"Impact Of Rising Fuel Prices on EV Sales in India", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.10, Issue 2, page no. ppa52-a54, February-2023, Available at : http://www.jetir.org/papers/JETIR2302008.pdf

Publication Details

Published Paper ID: JETIR2302008
Registration ID: 507994
Published In: Volume 10 | Issue 2 | Year February-2023
DOI (Digital Object Identifier):
Page No: a52-a54
Country: Bangalore, Karnataka, India .
Area: Management
ISSN Number: 2349-5162
Publisher: IJ Publication


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