Economic Slowdown: Maruti Suzuki Announces 2-day Shutdown of Gurugram, Manesar Plants

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New Delhi: Maruti Suzuki today announced to shut down its passenger vehicle manufacturing operations at Gurugram and Manesar plants for two days on 7th September and 9th September 2019. Both days will be observed as no production days. Maruti Suzuki shares were trading 2.5% lower at Rs 5,900 in noon trade.

Maruti Suzuki India had cut its production by 33.99% in August, making it the seventh straight month that the country’s largest car maker reduced its output. The company produced a total of 1,11,370 units in August as against 1,68,725 units in the year-ago month, Maruti Suzuki India (MSI) said in a filing to the BSE on Monday. The country’s largest carmaker Maruti Suzuki India on Sunday reported a nearly one-third decline in sales at 1,06,413 units in August. The company had sold 1,58,189 units in August last year.
Domestic sales declined by 34.3 per cent at 97,061 units last month as against 1,47,700 units in August 2018. Sales of mini cars comprising Alto and WagonR stood at 10,123 units as compared to 35,895 units in the same month last year, down 71.8 per cent. Sales of compact segment, including models such as Swift, Celerio, Ignis, Baleno and Dzire, fell 23.9 per cent at 54,274 units as against 71,364 cars in August last year. Mid-sized sedan Ciaz sold 1,596 units as compared to 7,002 units earlier. However, sales of utility vehicles, including Vitara Brezza, S-Cross and Ertiga, rose 3.1% at 18,522 units as compared to 17,971 in the year-ago month, MSI said.

Exports in August were also down by 10.8% at 9,352 units as against 10,489 units in the corresponding month last year, the company said.
India’s automotive industry is the fourth largest in the world, employing more than 3.5 crore people, directly and indirectly, and accounting for nearly half of the country’s manufacturing output.
(With Agency Inputs)

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