According to a senior business official, Maruti Suzuki expects its production activity to ease out in the current quarter as the supply situation for crucial electronic components improves gradually.
In the future years, the automaker is also focusing on regaining 50% market share in the domestic passenger car industry with its SUV lineup. Maruti Suzuki India (MSI) CFO Ajay Seth claimed that owing to a global semiconductor shortage, roughly 90,000 cars could not be built in the third quarter, largely for local models.
"The electronics supply situation is steadily improving, despite the fact that it is still uncertain. Though it will not achieve full capacity in Q4, the firm intends to enhance output in the fourth quarter "Seth contributed to the conversation. Maruti Suzuki's manufacturing factories in Haryana and Gujarat now have a combined production capacity of roughly 5.5 lakh units each quarter, or around 22 lakh units per year. Seth also revealed that the firm had a scarcity of electronic components during the October-December quarter, namely during the holiday season, when automotive demand is typically high. "Inquiries, bookings, and retail sales all improved sequentially in the third quarter." Finance availability and loan rates, for example, are still favourable "Seth had informed me.
Shashank Srivastava, the company's Senior Executive Director (Sales and Marketing), said that the semiconductor situation has steadily improved since September last year, when Maruti could only roll out 40% of its manufacturing target. "However, as you can see, it is still not 100%, and we are hoping that in January, February, and March, we will continue to see this progress, ideally to be over that 90% mark...we may not achieve 100%," Srivastava continued.
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