Maruti Suzuki to discontinue diesel models from 2020 - will offer an EV for Rs 9 lakh
The officials at Maruti Suzuki have stated that the company will cease the sales of their diesel models from April 1, 2020. RC Bhargava, Chairman of Maruti Suzuki India told the reporters during the post-results press conference. The company benefits up to 23 per cent annually from the sales of its diesel models. By offering incentives, Maruti Suzuki expects a shift to petrol or CNG models - also to provide CNG compatibility with more models.
The recently introduced 1.5-litre diesel engine is not BSVI compliant so far. The company also predicts that the demand for the BSVI will not be enough to justify the further development. The company will focus on developing petrol, hybrids, CNG and EVs.
The first EV from the Maruti Suzuki stable will be launched next year and will be priced between Rs 9-11 lakh. The deal with Toyota will take the centre stage as it revolves around hybrids and EVs, which Maruti Suzuki plans to push from now.
Maruti Suzuki's sales saw a growth of 6.1 per cent and sold 17.53 lakh units on the domestic market in the last financial year. 17.29 lakh units of passenger vehicles and 23,874 units of light commercial vehicles. 108,749 units were exported.
The company reported a drop in its net profit of 4.6 per cent to Rs 1,795.6 crore in the corresponding period last year. The company also announced a price hike on the Baleno diesel and RS by Rs 15,000 on the ex-showroom prices with immediate effect. The Maruti Suzuki Baleno RS has priced at Rs 8.88 lakh.
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