Vehicle Purchase Intent in India Rises Sharply, EV Adoption Hits 60 percent - Deloitte Report
Deloitte India's Consumer Signals report highlights a growing interest in vehicle ownership among Indian consumers, evidenced by a notable increase in the Vehicle Purchase Intent Index. Affordability has improved due to revisions in GST and stable economic conditions, making new vehicles more accessible. The report indicates a significant rise in interest in electric vehicles, with six out of ten potential buyers considering them. Additionally, India's Financial Wellbeing Index surpasses global averages, reflecting heightened consumer confidence and financial stability, contributing to informed purchasing decisions.
Vehicle Purchase Intent in India Rises Sharply, EV Adoption Hits 60 percent - Deloitte Report
Indian consumers are showing interest in vehicle ownership, according to Deloitte India’s latest Consumer Signals report. The study notes a 6.6-point increase in the Vehicle Purchase Intent Index over the past year, suggesting more households are ready to spend on big-ticket purchases.
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The report also states that revisions in Goods and Services Tax (GST) have helped improve affordability and purchasing power during the festive period. Along with stable economic conditions and easing inflation, these factors are supporting higher consumer intent toward vehicle ownership.
"The report also notes that only 23 percent of Indian consumers view new vehicles as unaffordable, compared to 62 percent globally. Improved affordability, tax revisions and stable economic conditions have contributed to this shift in perception," the report added.
Electric Vehicles See Record Demand
Interest in electric vehicles continues to rise. The report finds six in ten potential buyers are now considering an EV, up from less than half two years ago. Lower running costs, wider charging access, and government policies are encouraging more buyers to shift from conventional fuel models.
Buyers are also giving more importance to technology and safety features, showing a move toward practical and informed decision-making rather than impulse purchases.
Financial Stability Drives Confidence
India’s Financial Wellbeing Index stood at 110.3, higher than both global and Asia-Pacific averages. The report said, “India’s Financial Wellbeing Index (FWBI) continues to outperform Asia Pacific and global benchmarks (110.3 vs 103.6 globally), showing higher consumer confidence and financial stability. After a dip in the previous month, India’s FWBI recorded a small rise in September 2025, indicating improving comfort across key indicators of financial health.”
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