Maruti Suzuki not to sell diesel vehicles from April 2020: What you must know
In the wake of decreasing demand for diesel vehicles, automobile major Maruti Suzuki has decided to stop selling all diesel cars from April 1, 2020. The company took this step due to the implementation of Bharat Stage-VI emission norms that will lead to rise in car prices. According to the company`s Chairman RC Bhargava, "Diesel cars of BS-IV have to be sold and registered before 31st March (2019). We will work on our production schedule in a way that no diesel IV vehicle is left in our stock." From April 1, 2020 we will not be selling diesel cars, he said, while addressing reporters.
Bhargava said the company will return to this segment if the demand arises for diesel vehicles as per BS-VI norms, however, added that the company would come with vehicles above 1500 cc engines. The company has also decided to pull the plug on the diesel version of its light commercial vehicle Super Carry from next year. This vehicle would be only available in petrol/CNG version going ahead. Image source: Official website
Maruti Suzuki India (MSI) on Thursday reported a 4.6 per cent decline in net profit to Rs 1,795.6 crore for the last quarter of 2018-19, hit by adverse foreign exchange rates, high commodity prices and rise in sales promotion expenses. The company had posted a net profit of Rs 1,882.1 crore in the January-March period of 2017-18. Image source: Reuters
According to MSI report submitted with BSE, for the entire 2018-19 fiscal, the company posted a net profit of Rs 7,500.6 crore, down 2.9 per cent from the previous fiscal, while its net sales rose by 6.3 per cent to Rs 83,026.5 crore. Total car sales during 2018-19 were up 4.7 per cent to 18,62,449 units. Image source: Reuters