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Diesel Sales Drop to 5-Year Low in India
The proportion of new cars sold with diesel engines has declined to 33% in the fiscal year that began March 1 from a peak of 47% in fiscal 2012-2013, The Economic Times reports.
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The proportion of new cars sold with diesel engines has declined to 33% in the fiscal year that began March 1 from a peak of 47% in fiscal 2012-2013, The Economic Times reports.
The New Delhi-based newspaper notes that diesels accounted for 37% of new-car sales in India last year. Demand has cooled as diesel fuel prices have risen and the country prepares for a ban on diesel cars that are more than 10 years old. ET notes the ban has triggered a "drastic" drop in resale values.
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