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US embargo on Iran oil exports, BS-VI norms may hit auto sales: RC Bhargava

Commenting on Maruti Suzuki's announcement to discontinue diesel cars from next April, Bhargava said the impact of this decision on volumes would be known from July

Press Trust of India  |  Ahmedabad 

Maruti Suzuki Chairman R C Bhargava
Maruti Suzuki Chairman R C Bhargava

Days after expressing hope that auto sales will go up post-elections, RC Friday expressed apprehensions as he fears factors like the US embargo on Iranian crude imports and new emission norms playing spoil sport.

"I would have had a great confidence that auto demand will pick up after the Lok Sabha polls, but US putting an embargo on Iranian and BS-VI emission norms are some of the factors which may hit auto sales going forward," told reporters.

Commenting on Suzuki's announcement to discontinue diesel cars from next April, said the impact of this decision on volumes would be known from July.

"We need two to three months, say till June-end, to know how customers would actually behave. So, when we will meet for the first quarter results in July, we will have a clearer idea as to what is happening in the market," he said.

Bhargava was here to lay the foundation stone for a multi-speciality hospital and a senior secondary school at Sitapur village in north

The hospital and school project will come up with an investment of Rs 120 crore under the CSR initiative of the company.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Sat, April 27 2019. 02:06 IST
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