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Maruti Suzuki Sheds Over 2% On Production Cut In October amidst semiconductor scarcities

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At 11:00 am, Maruti Suzuki shares were trading lower by 2.4 percent at Rs 7,153 on the BSEMaruti Suzuki shares shed more than 2 percent on the BSE in a weak market after the car major announced an enormous production cut in October due to scarcities in semiconductors.

It is presently approximated that the overall vehicle production volume throughout both places (Haryana and Gujarat) could be around 60 percent of normal production, Maruti Suzuki said in a filing to the stock exchanges.

The cut in output comes at an inconvenient time for the business as the festive season has just kicked in with the start of Navratri on October 7.

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due to the semiconductor scarcity situation, the company is anticipating an adverse impact on car production in the month of October '21 in both Haryana and its contract producing business, Suzuki Motor Gujarat (SMG) in Gujarat, Maruti Suzuki said.On August 4, SMG had stated it will shut production for three successive Saturdays in August and may also bring down working to simply one shift owing to the semiconductor shortage.At 11:00 am, Maruti Suzuki shares were trading lower by 2.4 per cent at Rs 7,153 on the BSE as versus a 0.4 percent decline in the benchmark indices.




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