The major automobile manufacturer’s share price touched a low of Rs 7,900.55 on the National Stock Exchange as against the previous close of Rs 8,117.15.
A senior official of the country’s largest carmaker said the company believes that the next phase of emission norms – due 2023 – would bump up the cost of diesel vehicles and consequently impact sales, which for the last few years have seen a gradual move towards petrol vehicles, PTI reported.
Industry estimates peg the share of diesel vehicles at currently less that 17 per cent of total passenger vehicle sales, a substantial reduction from 2013-14 (Apr-Mar) when diesel automobiles used to account for 60 per cent of overall sales.
With the onset of the BS-VI emission regime from April 1, 2020, many companies have trimmed diesel vehicles in their sales portfolios.
The advent of the stricter norms had also prompted Maruti Suzuki to exclude diesel vehicles from the portfolio.
The company would instead focus on improving the existing petrol offerings in terms of fuel efficiency and in the future may also consider a fresh family of engines to power the product portfolio; PTI quoted a senior official as saying.
