Indian automakers refrain from producing petrol variants
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The Indian auto market has recently witnessed a drastic shift in the demand patterns of the Indian buyers, who now prefer the diesel driven cars over the petrol ones owing to the mounting prices of petrol. The diesel variants of the automakers are seeking greater demand leading to considerable curtailment and even halt in the production of the petrol models.
The automakers have even initiated schemes and incentives to promote the petrol powered vehicles in a bid to shell out the stock held by the dealerships as well as the companies. The companies have even resorted to stop the production of petrol vehicles due to highly declining demand for petrol models. The automakers are now aware of the fact that greater cost infusion through such short term incentives is the only way to elevate the sales growth rate.
Maruti Suzuki India has affirmed that in the case where the demand for petrol cars is sharply plunging down and is likely to decline by 50,000 units this fiscal and would further decline if petrol fuel prices shoot up at a greater pace in comparison to diesel prices. The company has already announced one week maintenance shut down commencing from next week.
Following the stream is General Motors India, which will be initiating NPDs (no-production days) to restructure the production pattern in accordance with current economic scenario.
Mr. Shekar Vishwanathan, Deputy MD (Commercial),Toyota Kirloskar Motors have confirmed that the automaker has entirely stopped the production of petrol models since 16th June to avoid the already held huge stock from further piling
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