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Maruti Suzuki's Total Sales In October Fall About 24.2% YoY As Semiconductor Shortage Hits Production

Maruti Suzuki informed that the vehicle sales in October were affected by the semiconductor shortage. However, it informed that the company sold more vehicles than the sales volumes expected at the beginning of the month.

Maruti Suzuki's Total Sales In October Fall About 24.2% YoY As Semiconductor Shortage Hits Production
Maruti Suzuki's Total Sales In October Fall About 24.2% YoY As Semiconductor Shortage Hits Production
outlookindia.com
2021-11-01T14:25:28+05:30

Automobile maker Maruti Suzuki total sales in October fell about 24.2 per cent at 138, 335 units in October, the company informed on Monday. The company said the semiconductor shortage continued to bother vehicle production in October. However, it informed that the company sold more vehicles than the sales volumes expected at the beginning of the month. 

Domestic sales stood in October at 112,788 units whereas sales to other original equipment manufacturers stood at 4,225 units. 

The company's total sales in  September had fallen by approx 46.2 per cent on a year-over-year basis to 86, 380 units. 

Last week the company had informed that it expected vehicle production at its plants in Haryana and Suzuki's plant in Gujarat will suffer owing to the semi-conductor shortage. The automobile manufacturer, though asserting that though the situation is still dynamic, estimates that total vehicle production volume could be around 85 per cent of normal production in both the locations combined. 

Additionally, the company had reported a 65.35 per cent decline in profit on a year-over-year basis at Rs 475.30 crore in the September-end quarter. Revenues in the second quarter fell approx 9.1 per cent at Rs 19.297.80 crore compared to the comparable period, last year. 

 "An estimated 116,000 vehicles could not be produced owing to the electronics component shortage mostly corresponding to the domestic models. The Company had more than 200,000 pending customer orders at the end of the quarter for which the Company is making all efforts to expedite deliveries," the company stated in its quarterly report. 

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