The Indian mobility industry is expected to cross $600 billion by 2030, as per the Think Mobility report released by Google and Boston Consulting Group (BCG) during the Bharat Mobility Auto Expo. This report outlines how India’s mobility sector is taking a different path compared to global trends, shaped by both traditional and emerging revenue streams.

A growing interest in electric vehicles (EVs) is evident, with one in three consumers considering them for their next purchase. However, consumer preferences vary between electric four-wheelers (E4Ws) and electric two-wheelers (E2Ws). Buyers of E4Ws focus on advanced technology and exclusivity, while E2W buyers prioritise affordability and practicality.

Women are playing a key role in the EV market, now influencing 52 per cent of purchase decisions. This marks a rise from 38 per cent in the internal combustion engine (ICE) segment. New mobility models, including electric, shared, and connected solutions, are predicted to contribute an additional $100 billion, reflecting a shift in consumer priorities.

Vikram Janakiraman, Managing Director and Senior Partner at BCG, said mobility players need to adjust to changing consumer demands. He noted that integrating digital tools, technology, and artificial intelligence (AI) would be crucial in meeting these evolving needs.

Gen Z is emerging as a major influence in mobility trends, being 2.7 times more likely to choose self-drive rental services compared to older generations. Subscription models and self-drive rentals are gaining popularity, with 85 per cent of users showing interest in purchasing the vehicles they rent. Additionally, digital purchase processes are outpacing traditional methods, driven by a demand for personalisation.

Bhaskar Ramesh, Director of Omni-Channel Businesses at Google India, said AI’s has great potential to enhance consumer experiences across pre-purchase, in-vehicle, and after-sales stages. He expressed optimism about partnering with the industry to foster innovation and growth.

Used cars are also gaining attention. One in four first-time car buyers is considering pre-owned vehicles, driven more by lifestyle upgrades than cost-saving factors.t.

India’s automobile industry, already the third-largest globally, is set for significant transformation. Natarajan Sankar, managing director and partner at BCG, emphasised that aligning offerings with the specific demands of Indian consumers, while leveraging global innovations in EVs, digital technologies, and AI, will be key for manufacturers. The Think Mobility report is based on research involving over 4,500 Indian consumers, leading automotive manufacturers, and data analysis.