Suzuki Motor estimates 6% fall in automobile sales in India
Suzuki Motor Corporation expects a decline in its automobile sales in India. The company conveyed that it is anticipating a fall of six per cent year-on-year in the country and it has also cut its overall global sales forecast for the current fiscal by 2.25 lakh units due to the ongoing semiconductor shortage.
Suzuki pegged its total global sales forecast for the ongoing fiscal at 24.86 lakh units, which is down by 2.25 lakh units from the previous forecast. In the last financial year, Suzuki sold 25.71 lakh units.
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Suzuki's subsidiary Maruti Suzuki India sold 14,57,861 units for the 2020-21 fiscal year and so far in the current one that ended on 30 September, the auto major sold 7,33,155 units.
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Suzuki also informed that it has revised its annual production plan for the ongoing fiscal to about 25.79 lakh units. This is 2.99 lakh units less than initially planned. In the previous fiscal year, it manufactured about 26.51 lakh units. “The initial plan for automobile production is an in-house plan that does not take into account the effects of semiconductor shortage and Covid-19 pandemic in India," stated the company.
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The automaker said that it is trying to minimize the effect of shortage of parts on the production output and deliver its products to as many customers as possible. However, it added that despite the expected decrease in production, operating profit has been kept unchanged from the previous forecast of 170 billion yen, down 12.6 per cent from the previous fiscal.
(With inputs from PTI)
