Comment by alephnerd

Depends region to region.

Once outside Tier 1 cities, density significantly reduces. Additionally, the Indian consumer is aspirational, and if forced to purchase a new vehicle would prefer a used car over a new 2-wheeler.

Anecdotally, in my ancestral village, my relatives preferred buying a used Maruti Suzuki for 1 Lakh (roughly $1k) instead of spending the equivalent amount on a new bike.

In the Vietnamese side of my family, everyone is ignoring the recent diktat to upgrade to electronic motorbikes for the same reason (why spend almost a year's income to purchase a vehicle when inflation for daily staples has been high)

I feel there is an opportunity for EV cars, but they face stiff competition from Kei/900-1100cc cars that cost around $4k-8k.