Maruti Suzuki Shuts Production For A Day At Gurugram, Manesar Car Plants
Maruti Suzuki India Ltd. on Monday shut production for a day at its car plants in Gurugram and Manesar, Haryana, to manage rising inventory levels, sources said.
The company’s installed manufacturing capacity at its two plants stands at around 15.5 lakh units per annum. According to the industry sources, Maruti Suzuki gave employees at the two car plants a day off on Monday as it faced issues regarding stocking of cars.
When contacted, Maruti Suzuki officials declined to comment on the matter.
Maruti Suzuki had earlier in May said it cut production by around 10 percent in April. It was the company's third consecutive month of taking a production cut.
Overall passenger vehicle sales in India dropped over 17 percent in April, the worst monthly fall in nearly eight years, as subdued sentiment and the ongoing liquidity crunch impacted car sales.
On Monday, Maruti Suzuki shares fell 0.47 percent to Rs 7,062.70 apiece on the BSE while the benchmark Sensex gained 0.63 percent to end at a record high of 39,683.29 points.