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While a majority of the cars Volvo sold in Europe were diesel as recently as 2019, in 2022 they made up just 8.9% of the Swedish carmaker’s sales.
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Market leader Maruti has just driven the first nail in the coffin. Other car makers may just follow suit
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The Indian auto industry is yet
again looking forward to a new year with renewed optimism amid
challenges of new regulations after a bumpy ride in 2016.
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Swedish luxury carmaker Volvo
Cars, which today launched its newest sedan S90 that has an
under 2-litre diesel engine at an entry price of Rs 53.5 lakh,
said it is expecting to close the year with 20 per cent
increase in sales.
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A Germany-based Volkswagen engineer was indicted in Detroit federal court today and pleaded guilty for his role in developing an emissions-cheating device on diesel cars.
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Volkswagen India may finally begin recalling nearly 3.24-lakh diesel cars that were affected by the global diesel emissions scandal that broke out in the USA in September last year, reports CNBC-TV18. The recall was expected to begin in the first quarter of calendar 2016.
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The narrowing of the gap between diesel and petrol prices, the December 2015 ruling by the Supreme Court banning registration of luxury diesel cars in the National Capital Region, and the NGT's order in April 2015 seeking a ban on diesel vehicles over 10 years old, have all contributed to the negative sentiment against diesel vehicles in general
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The auto industry though is definitely not happy with the order with Maruti Suzuki's Chairman RC Bhargava saying that a blanket ban on diesel cars will be very detrimental for the entire sector.
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Environment Minister Prakash Javadekar said the ban on diesel cars and SUVs with
engines above 2,000 cc in Delhi-NCR by courts "is not the right way"
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Raman Kumar Sharma, Senior Vice President and Director of the Honda Cars India said that the product received over 9000 bookings for Honda BR-V, which comes in both diesel and petrol variants, since its launch on May 5.
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Luxury car maker Mercedes-Benz on May 18 said it has put on hold investments in India due to ban on sale of larger diesel vehicles in Delhi-NCR and the issue
has put a question mark on the country's credibility as an investment destination
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The ban imposed on diesel cars and SUVs of engine capacity 2,000cc and above in Delhi-NCR by the Supreme Court has impacted about 5,000 jobs in the automobile sector, according to the industry body Siam.
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The company, which operates in India as a joint venture -- Toyota Kirloskar Motor -- with the Kirloskar group, is among the worst hit and has not been selling its popular vehicles Innova and SUV Fortuner in the Delhi-NCR region since the ban was imposed in December last year.
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A day ahead of the Supreme Court
hearing on ban on big diesel cars and SUVs in the Capital and
NCR, auto industry body SIAM today said such restriction is
not going to achieve the desired objective of reducing
pollution and will only vilify diesel technology.
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Volkswagen (VW) is mounting its defences in anticipation of a report next month by US law firm Jones Day appointed by the carmaker to investigate those responsible for the biggest corporate scandal in its history.
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The infrastructure cess is sure to have a negative impact on the overall demand said VS Parthasarathy, CFO, Mahindra and Mahindra but on other hand the various measures to boost rural economy, infrastructure and farmer income could help mitigate the negatives.
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Is Delhi‘s Pollution The Supreme Court‘s Problem?
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CARB said VW's proposals for its 2.0 liter diesels, submitted in November, "lack enough information for a technical evaluation" and "do not adequately address overall impacts on vehicle performance, emissions and safety."
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As per sources, the auto industry has formed a core group, comprising of Pawan Goenka (M&M), Kenichi Ayukawa (Maruti Suzuki) and Vikram Kirloskar (Toyota Kirloskar).
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Watch the interview of Vikram Kirloskar Former President, SIAM with Kritika Saxena on CNBC-TV18, in which he shared his reading of how the ban on new diesel cars in Delhi will impact the auto industry.
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Automotive Research Association of India (ARAI) had submitted the preliminary report to the government on October 28. The minister further said, "at the moment, there are no specific norms or limits for measuring on road emissions coming out of cars".
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Michael Horn, president and CEO of Volkswagen Group of America, in prepared remarks, apologized and said that the company is "determined to make things right."
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German Volkswagen, whose name translates to 'the people's car', recently admitted that it had rigged its 11 million vehicles and fit them with devices that could activate pollution controls during tests but covertly turn them off when the car would be on the road.
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Spot gold was little changed at USD 1,137.45 an ounce by 0037 GMT. The metal had gained 2.2 percent on Friday, its biggest one-day rise since January 15.
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He replaces Martin Winterkorn, who stepped down this week following revelations of the auto giant's manipulation of emission tests for its diesel cars.
