The country's largest carmaker Maruti Suzuki has reduced production for the ninth month once again. Due to economic slowdown and weak demand, the company reduced production by 20 percent in October. According to the information given to the stock market, the company produced a total of 1,19,337 vehicles in the month of October. Last year, the company produced 1,50,497 vehicles in the same month.
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Reduced production of these vehicles - The company said in its statement that it has reduced the production of small vehicles like Alto, S-Preso and old Wagon R by 39% (20,985 units). With this, the production of the new Wagon R, Celerio, Ignis, Swift, Baleno and Dzire has been cut by 13.6 percent (64,079). Apart from this, the production of Ciaz was cut by 45 percent (1922 units).
Utility Wheels also reduced production - the company produced 22,736 units of the S-Cross, Ertiga, XL6 and Vitara Brezza during this period, in addition to 22,526 units produced last year. On the other hand, Maruti had reduced the production of Omni and Echo by 45 percent to 7,661 units last month.
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Work on the third plant slowed - Suzuki has two plants in Hansalpur, Gujarat, with a total production of five lakh units. On the one hand, the third plant is under construction, where 2.5 lakh vehicles can be produced every year. Suzuki has slowed down the work of the new plant. According to TOI news, Maruti is also starting a re-evaluation of some of its projects.
Exemptions are at a peak - Currently, Maruti chairman RC Bhargava said that new demand is difficult to come in the industry and the discount on vehicles is at its peak. On one hand, Suzuki has a total annual manufacturing capacity of five lakh units, while Maruti is producing about 1.5 million units annually in Haryana (Gurgaon and Manesar) and Gujarat.