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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Deepika Kumari leads Indian recurve archery team to dramatic World Cup gold
Shanghai (PTI): The Indian trio of Deepika Kumari, Ankita Bhakat and teenager Kumkum Mohod held their nerve in a tense shoot-off to beat home favourites China and clinch the women's recurve team gold medal at the Archery World Cup Stage 2 here on Sunday.
In a final marked by fluctuating fortunes, India edged past the home side 5-4 (28-26) in the shoot-off after the four-set regulation ended 4-4.
The victory was especially sweeter as India had earlier stunned record 10-time Olympic champions South Korea in the semifinals en route to their first World Cup women's team gold since 2021.
Deepika, who was also part of India's World Cup-winning teams in Guatemala City and Paris in 2021, now has seven World Cup team gold medals to her name since 2010.
It was also the Indian women recurve team's first World Cup medal in three years, its previous podium finish coming in Stage 4 in Paris in 2023 where Ankita was a member of the winning team.
India's campaign in Shanghai has thus already yielded two medals after compound archer Sahil Jadhav opened the country's account, securing a bronze on Saturday.
India also remained in contention for another podium finish later in the day with recurve archer Simranjeet Kaur set to compete in the semifinals. She is a win away from her maiden individual World Cup medal.
Travelling without a full-time national coach amid the continuing impasse over appointments, it was the vastly experienced Deepika who led from the front, constantly motivating her teammates during breaks and changeovers.
Prafull Dange, who was the designated women's recurve coach after his ward Kumkum topped the national trials, largely remained in the background as Deepika guided the side through the pressure moments against a hostile home crowd and vocal Chinese support staff.
Against a young Chinese side comprising Zhu Jingyi, Huang Yuwei and teenage archer Yu Qi, who all made their World Cup debuts only last year, India looked in control initially but nearly let the match slip after taking the opening set (54-53).
Shooting last in the Indian order, Deepika set the tone with successive 10s as India edged the first set despite Ankita (8-8) and 17-year-old Kumkum (10-8) putting up an inconsistent show.
Deepika continued her fine rhythm in the second set with another perfect 10 as India briefly held a one-point advantage (28-27) midway through the end. But China responded strongly with two 9s and a 10 in their final three arrows of the second set to post 55.
Ankita replied with a 9, but Kumkum managed only an 8, leaving Deepika needing a 10 to level the set.
The four-time Olympian, however, slipped to a 7 as India lost the set 52-55 and China drew level at 2-2.
The hosts then moved ahead in the third set. The teams were initially tied at 56, but a review upgraded China's final arrow from 8 to 9, handing them the set 57-56 and a 4-2 lead.
India appeared on the verge of defeat in the fourth set despite Deepika rediscovering her touch with two 10s. Kumkum's final arrow landed in the 7-ring as India posted a modest 54.
China required two 10s and a 9 from their last three arrows to seal the match.
Zhu and Huang delivered perfect 10s, leaving 18-year-old Yu Qi needing a 9 for victory in front of the home crowd.
But the youngster shot an 8, allowing India a dramatic escape and forcing a shoot-off.
The Indians peaked at the right moment in the decider. Ankita opened with a 9, Kumkum followed with a superb 10, and Deepika calmly delivered a 9 when only an 8 was needed to seal the title.
