Maruti Suzuki said last month it will continue to support central bank and state governments and followall advisories in combating COVID-19.
Maruti Suzuki India, the country’s largest carmaker, on Friday reported zero domestic sales last month. That marked the first time ever that Maruti Suzuki posted zero sales in a month in the domestic market. The company said all its production facilities were closed in compliance with the government orders. The country continues to remain in a nationwide lockdown to curb the spread of the coronavirus (COVID-19) pandemic, which has pushed business into a standstill.
Here are 10 things to know:
1. In a regulatory filing, the auto maker said that the nil sales included sales to original equipment manufacturers (OEMs).
2. The coronavirus-triggered lockdown has crushed demand in the country’s auto industry, already struggling with falling sales that forced many auto manufacturers to trim their production.
3. In March 2020, Maruti Suzuki’s domestic sales had dropped 47.9 per cent to 76,976 vehicles. The company, however, said that the March 2020 sales were not comparable with the corresponding period a year ago due to the suspension of operations during the month in line with national policy.
4. Maruti Suzuki suspended operations from March 22.
5. Industry body Society of Indian Automobile Manufacturers’ data showed last month that domestic passenger vehicle sales dropped 51 per cent in March. SIAM said the country’s automobile sector witnessed one of its sharpest decline in domestic sales during the month due to subdued demand, further aggravated by the COVID-19 outbreak.
6. In April 2019, Maruti Suzuki India had sold 134,068 vehicles in the domestic market. Its total sales – including domestic sales and exports – were at 1,43,245 vehicles that month.
7. As of Friday morning, total coronavirus cases in the country rose to over 35,000, including 1,147 deaths.
8. Maruti Suzuki said last month it will continue to support central bank and state governments and follow all advisories in combating COVID-19, and is fully committed to the safety and well-being of its employees, business partners and customers.
9. Concerns about the economic fallout from the coronavirus outbreak have spooked the markets and businesses across the globe.
10. Maruti Suzuki shares are down 27.24 per cent so far this year, as against a 18.27 per cent fall in the benchmark S&P BSE Sensex index. In April, the stock recovered 25.01 per cent, following a 31.77 per cent plunge in the previous month.