New Delhi: Maruti Suzuki, India’s largest car company, has seen a decline in its sales in October. According to the company, car sales declined by 32 per cent in October. Although the demand for its cars has increased, the sales saw a decline due to the shortage in production, which can mainly be attributed to the shortage of semiconductor chips in the Indian market.
Production falls due to chip shortage:
According to Maruti Suzuki, 1,12,788 cars were supplied to dealers in October 2021 as compared to 1,66,825 in October 2020. In an official statement, the company has named semiconductor shortage as the reason behind shortage in production. However, the company has taken several steps to reduce the impact of this chip shortage.
The festive season is generally a good time for automotive companies, as they sell most cars during this time of the year.
However, shortage of semiconductor chips has impacted their manufacturing line this year, due to which these companies would not be able to sell as many cars this year as they generally do.
As a matter of fact, customers would have to wait anywhere between 5 and 6 months to get their car delivered. This is a long waiting period, even after booking the car in advance.
The recent growth in the share market also impacting Maruti Suzuki’s stock price. Maruti’s stock was seen trading 1.57 per cent higher at Rs. 7,600.
Car loan Information:
Calculate Car Loan EMI
Be First to Comment