The country's largest carmaker Maruti Suzuki India (MSI) will phase out all diesel cars from its portfolio with effect from April 1, 2020 as per MSI Chairman RC Bhargava.
The diminishing gap between petrol and diesel prices has seen an overall decline in diesel cars sales. From April 1, 2020, the BS VI emission standards would come in force which would require huge investment from OEMs to produce BS VI compliant engines. Maruti currently sells a range of diesel vehicles. Around 23 per cent of all units sold by the company in the domestic market currently are diesel cars.
The car firm forecast a weak rate of growth for the current fiscal year amid an industry-wide weakening of demand, sending the carmaker's shares down as much as 2 percent. The country's biggest automaker, majority owned by Japan's Suzuki Motor Corp, said it expected production and sales to grow between 4% and 8% for the financial year started in April. Last year, the company targeted a 10 percent rate of growth for sales.
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