india\s maruti blames strike for sales fall
Last Updated : GMT 06:41:18
Arab Today, arab today
Arab Today, arab today

India\'s Maruti blames strike for sales fall

Arab Today, arab today

Arab Today, arab today India\'s Maruti blames strike for sales fall

Mumbai - AFP

Leading Indian car maker Maruti Suzuki Friday reported its first drop in monthly sales for more than two-and-a-half years, blaming the fall on a strike at one of its factories that hit production. The New Delhi-based firm, which is majority owned by Japan\'s Suzuki Motor Corp, said it sold 80,298 units in June, down 8.8 percent from a year earlier. The company said in a statement to the Bombay Stock Exchange that sales also fell due to a planned, six-day maintenance shutdown of its Manesar and Gurgaon factories in northern Haryana state. Maruti last showed a drop in sales in December 2008, analysts said. \"Production in the company’s Manesar plant in northern state of Haryana was impacted due to a strike by a section of employees,\" the stock market statement said. Maruti shares fell 2.4 percent on the news to 1,130.1 rupees in intraday trading on the Bombay Stock Exchange. production of cars stopped for 11 days last month as 2,000 workers at the Manesar plant downed tools to demand the recognition of a new union. The walkout cost Maruti nearly $93 million and hit the production of about 12,600 cars, mainly its high-end, mid-sized D\'zire and SX4 models. In the first days of the strike, Maruti said it had an \"ample inventory\" to absorb the halt in production and that the delivery and sales of cars were unlikely to be affected. Maruti chairman R.C. Bhargava later said delivery of diesel cars produced at Manesar would be delayed, alongside some models meant for exports. The pace of growth for Maruti\'s car sales has been slowing for three successive months, data shows. Car sales in India -- seen as a bellwether of economic health -- are starting to moderate after breakneck growth for nearly two years, as auto loans get costlier and input and fuel costs rise. Maruti\'s small car models, including the popular M-800, Alto and A-Star, as well as the SX4 and D\'zire plus the multi-utility-vehicle segment all showed lower year-on-year sales in June. India, where just one in 10 households in urban areas owns a car and one in 50 in rural areas, is the world\'s fastest-growing auto market.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

india\s maruti blames strike for sales fall india\s maruti blames strike for sales fall

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

india\s maruti blames strike for sales fall india\s maruti blames strike for sales fall

 



Arab Today, arab today
Arab Today, arab today Skincare PR Performance Full Year 2017

GMT 10:35 2018 Monday ,22 January

Skincare PR Performance Full Year 2017
Arab Today, arab today New hunt for flight MH370 gets under way

GMT 02:36 2018 Wednesday ,24 January

New hunt for flight MH370 gets under way
Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today France sanctions businesses linked

GMT 01:58 2018 Wednesday ,24 January

France sanctions businesses linked
Arab Today, arab today Turkey detains dozens more

GMT 02:09 2018 Wednesday ,24 January

Turkey detains dozens more
Arab Today, arab today
Arab Today, arab today

GMT 07:22 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 07:23 2017 Thursday ,23 November

Zimbabwe's next leader heads home after Mugabe exit

GMT 22:38 2018 Tuesday ,23 January

Bahrain Press headlines

GMT 20:34 2018 Saturday ,20 January

Bahrain press headlines

GMT 16:25 2016 Thursday ,22 December

Italian bank Monte Paschi edges closer to state bailout

GMT 06:03 2014 Wednesday ,09 April

Please .. Let Gaza breathe!

GMT 09:12 2017 Friday ,17 November

Gleam Futures represents Grace Beverley

GMT 04:18 2017 Sunday ,26 November

Bella magazine appoints celebrity writer

GMT 06:00 2017 Sunday ,29 October

Childrenswear brand Once appoints Dyelog

GMT 16:33 2014 Thursday ,13 November

Al-Ehtimam Bil Aakhareen

GMT 03:34 2017 Sunday ,05 November

Needle & Thread relocates press office

GMT 14:56 2017 Thursday ,21 December

Ryanair says formally recognises pilots' union

GMT 16:03 2017 Thursday ,21 December

US hits Myanmar general in new global rights sanctions
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday