Auto Sector Crisis: Maruti Announces ‘No-Production Days’ In Haryana Plant
New Delhi: Maruti Suzuki on Wednesday announced two “no production days” in its Haryana plants this month amid a crippling auto sector slowdown. The passenger car manufacturing operations at its Gurugram and Manesar plants will be shut for two days, on Saturday and Monday, the carmaker said in a regulatory filing to the Bombay Stock Exchange (BSE).
The “no production days” by Maruti Suzuki underscore a sharp, prolonged slump in sales and lakhs of job cuts in the country’s auto sector.
Maruti Suzuki shares were trading 3.5% lower at ₹5,843 apiece as compared to a 0.50% gain in benchmark index Sensex.
The company had cut its production by one-third in August, making it the seventh straight month that the country’s largest carmaker reduced its output.
The government had in August announced a slew of measures to prop up the automobile sector but industry experts have termed them inadequate.
The auto industry has sought immediate steps from the government, including a reduction in GST rates and initiation of scrappage policy, as sales continued to plummet.