NGT diesel vehicle ban jolts car makers, 12000 car sale losses anticipated

0
15 views

MUMBAI: The National Green Tribunal’s order banning the registration of diesel vehicles in the national capital has come as a major jolt to auto makers, who have invested heavily in diesel technology in the recent past. The decision, an interim measure until the next hearing on January 6, means the manufactures won’t be able to sell 10,000 to 12,000 diesel vehicles during the period, unless it is overruled by court, show a back-of-the-envelop calculation, which was corroborated by industry executives.

The order caused a Rs 6,614 crore dent on the market capitalization of auto and parts manufactures, with shares of Maruti SuzukiBSE -0.34 % (0.34%), Mahindra & Mahindra (2.23%), Tata MotorsBSE -2.92 % (2.92%) and Bosch (2.16%) all ending lower on Friday. Companies such as Hyundai, Honda, Toyota, Renault and Ford too would be hit by the NGT decision.

Related Posts Plugin for WordPress, Blogger...