India among top 3 auto mkts in the world, yet faces shortage of EV buyers

India is now among the top three auto markets in the world. A feat indeed, but it’s being driven by internal combustion-engine cars even as global pressures force a pivot to cleaner electric vehicles.

Over 4 million four-wheel vehicles were sold in India last year, surpassing Japan and coming in behind China and the US. That’s a stunning reversal from almost eight months ago, when sales tanked to a decade-low and swathes of production capacity lay idle. Now, with the economy growing at a fast clip, car buyers are back and willing to spend. While the broader market is