Maruti Suzuki records 18% production fall in December 2022; Stock under pressure

3 Jan 2023 , 09:16 AM

Shares of Maruti Suzuki India (MSI) trading lower on the stock exchange on Tuesday’s trade. The company recorded an 18 per cent fall in production in December 2022. The total production during the reported month was 1,24,722 units compared to 1,52,029 units in the corresponding period, the auto company said.

It informed in a regulatory filing that, MSI said the total passenger vehicle production stood at 1,24,135 units last month, against 1,48,767 units in December 2021.

Maruti Suzuki India Ltd is currently trading at Rs8,368.25 down by Rs38.40 or 0.46% from its previous closing of Rs8406.65 on the BSE. The scrip opened at Rs8,409 per share.

Production of mini cars comprising Alto and S-Presso models was 11,348 units last month as compared to 19,396 units in the year ago period, as per the filing.

Similarly, the manufacturing of compact cars, comprising WagonR, Celerio, Ignis, Swift, Baleno, and Dzire, decreased to 72,405 units from 86,694 units earlier, the company said.

Production of utility vehicles – Ertiga, S-Cross, Brezza, Jimny and XL6 – also saw a decrease to 27,303 units in December 2022 from 31,794 units in the corresponding month of 2021, it added.

‘The shortage of electronic components had some impact on the production of vehicles during the month. The Company took all possible measures to minimise the impact’, the auto company said in a statement.

For feedback and suggestions, write to us at [e-mail]