Amid skyrocketing prices of petrol and diesel, Maruti Suzuki India (MSI) is looking to cash in on the accelerated demand for its CNG vehicles, expecting nearly 50 per cent growth in the ongoing fiscal year, according to a senior company official.
The company, which offers CNG options in eight models out of total 14 available in the Indian market, is also actively working to expand the portfolio.
“This year CNG (vehicles) in the industry has grown almost 37 per cent at a time when the overall growth is negative (18 per cent decline) in April-January period. It means CNG is growing very well,” Maruti Suzuki India Executive Director (Marketing & Sales) Shashank Srivastava told PTI.
Explaining why the demand for CNG vehicles has gone up, he said as the prices of petrol and diesel as a fuel have gone up dramatically, the running costs have also increased. “The cost of running CNG is only Rs 1.5 per km whereas for petrol and diesel it is almost Rs 4 per km. People are now preferring CNG as the running cost is very low so there is a growth in sales of CNG vehicles,” Srivastava said.