Maruti Suzuki India Ltd. will phase out all diesel cars from April 1, 2020, the day new emission norms called Bharat Stage VI take effect.
Diesel cars account for almost a third of sales, but stopping production is unlikely to dent the market leader’s volumes, MSIL chairman R C Bhargava told Business Standard in an interview on April 15.
"From April 1, 2020 we will not be selling diesel cars," said Bhargava in Delhi on Thursday, according to news agency PTI.
The company expects buyer preference to change swiftly in favour of petrol, compressed natural gas (CNG), and other alternative technologies, as diesel cars fall out of favour, owing to the steeper price premium they will command over the gasoline counterparts.
MSIL on Thursday reported a net profit of Rs 1,795.6 crore for the March quarter of financial year 2018-19 (FY19), down 4.6 per cent on year-on-year (YoY) basis. It had posted a PAT of Rs 1,882.1 crore in the March quarter of the previous fiscal year. Maruti also announced a dividend of Rs 80 per share for 2018-19, the same as that of last year.