Maruti Announces "No-Production Days" In Haryana Plants Amid Auto Crisis

Maruti Announces

The auto industry in India has been reeling under a severe slowdown in the last few months.

The company said it will halt manufacturing operations at the two facilities on 7 and 9 September.

Maruti Suzuki, India's biggest vehicle manufacturer, Wednesday announced a two-day shutdown of production at its Gurugram and Manesar plants amid a slowdown in the auto sector.

Intra-day, the stock tumbled 4.15 percent to Rs 5,798.25.

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Maruti Suzuki, one of India's largest vehicle makers, has made a decision to shut down its two plants in Haryana for two days amidst a growing crisis in the automobile sector. The announcement comes days after the company announced a 36 per cent drop in domestic passenger vehicle sales for the month of August on the back of decline in sales over last several months. For the country's largest carmaker to shut down its passenger vehicle production at any facility for two whole days is a big deal and can be read as a public statement about the effects of the current automotive downturn. Sales of mini cars comprising Alto and WagonR stood at 10,123 units as compared to 35,895 units in the same month previous year, down 71.8 per cent.

In the "mini and compact" segment, the company manufactured only 80,909 vehicles against 122,824 in August 2018.

Mid-sized sedan Ciaz sold 1,596 units as compared to 7,002 units earlier. The company's total passenger vehicles output declined to 110,214 from 166,161 produced in the year-ago month.

Exports in August were also down by 10.8% at 9,352 units as against 10,489 units in the corresponding month previous year, the company said.

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