Maruti to phase out all diesel cars from April next year
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Maruti Suzuki garners nearly 23% of its annual sales from diesel cars
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The carmaker also today announced a hike in prices of some of its models
Maruti Suzuki, the country’s largest vehicle manufacturer, today announced that it will stop manufacturing diesel vehicles from April 1, 2020 when the new BS 6 emission norms will be introduced. The high cost of upgrading existing diesel engines to the BS 6 norms propelled the company to take such a decision.
The company will try to focus on compressed natural gas (CNG) and hybrid technology driven vehicles to compensate the vacuum created by the phasing-out of diesel vehicles.
Mint was the first to report on Feb 14, 2019 that Maruti was in talks with its parent company Suzuki Motor Corporation for discontinuation of diesel vehicles from 2020.
According to R C Bhargava, chairman, Maruti Suzuki India Ltd, from April next year the company will stop manufacturing diesel vehicles since substantially higher development cost will not make diesel a viable option for consumers.
“We have taken this decision so that in 2022 we are able to meet the Corporate Average Fuel Efficiency norms and higher share of CNG vehicles will help us comply with the norms. I hope the union government’s policies will help grow the market for CNG vehicles," added Bhargava.
Apart from that, the company reported a 4.6% year-on-year decline in net profit to ₹1,795 crore for the quarter ending March 31, 2018 as a result of high commodity and forex costs and increased discounts offered by the company to attract buyers since vehicle sales remain subdued.
The total vehicle sales of the company increased by just 0.4% year-on-year to 4,28,863 units while the net sales or revenue dropped by 0.7% year on year to 20,737.5 crore. The operating margins contracted by 300 basis points due to increase in commodity cost and discounts.
In the full year FY 19, the New Delhi-based company reported 2.9% decease in net profit to ₹7,500.6 crore while the revenues grew by just 6.3% to ₹8,3026.5 crore.
According to Ajay Seth, Maruti's executive director, Finance, overall increased discounts offered to customers and commodity costs had an adverse impact on the financials of the company in FY 19 and the company will cut costs in different part of its operations to stabilise the operating margins in FY 2020.
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Dhyan Chand lifetime award to be replaced by Arjuna lifetime
New Delhi, Oct 24: The sports ministry on Thursday announced the discontinuation of the Dhyan Chand Award for lifetime achievement from this year onwards and the introduction of the Arjuna Award Lifetime in its place in a bid to "rationalise" the various sporting honours of the country.
Instituted in 2002, the Dhyan Chand Lifetime Award, named after hockey wizard Major Dhyan Chand, is given to individuals in disciplines that are part of the Olympic Games, Paralympic Games, Asian Games and Commonwealth Games, among others.
In 2023, the award was given to former shuttler Manjusha Kanwar, ex-hockey exponent Vineet Kumar and kabaddi player Kavitha Selvaraj.
"The various schemes for sports awards have been rationalised wherein Arjuna Award (Lifetime) has been introduced in place of Dhyan Chand Award. To recognise the efforts of coaches at grassroots/development level, they are now eligible for the Dronacharya Award," said a ministry statement.
"The Arjuna Award (Lifetime) has been introduced and will be given for life time contribution to sports development.
"Further, to recognize the Khelo India scheme, the Maulana Abdul Kalam Azad (MAKA) Trophy will be given to the University for Overall Top Performance in Khelo India University Games," it added.
The last date for applying for the national sports awards for 2024 is November 14.
