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Business News/ Markets / Stock Markets/  Maruti Suzuki expects June sales to be impacted by chip shortage; stock price slips from high

Maruti Suzuki India, the largest passenger vehicle manufacturer in India, expects its sales in June to be impacted by semiconductor shortage, as per report.

Speaking to CNBC-TV18, Shashank Srivastava, Senior Executive Officer, Marketing & Sales, Maruti Suzuki India said that its June sales are likely to be impacted due to semiconductor availability still under pressure for some of its models.

However, he added that the company was on track to achieve growth in export markets.

Following the comments, Maruti Suzuki share price declined from its intraday high of 9,459.20 apiece. The stock was trading at 9,443.25 apiece, up 1.24%, at 2:35 pm.

Maruti Suzuki’s production in May was also impacted by the shortage of electronic components.

“The shortage of electronic components had a minor impact on the production of vehicles. The Company took all possible measures to minimise the impact," Maruti Suzuki said in an exchange filing.

The auto major’s total production in May 2023 increased to 180,221 units from 164,859 units in the same month last year.

Production of its passenger vehicle rose to 176,218 units during the month as compared to 160,459 units, YoY. 

Meanwhile, the company reported total vehicle sales at 178,083 units in May 2023, registering a rise of 10.32% as compared to 161,413 units sold in the same month last year. Total sales in the month include domestic sales of 146,596 units, sales to other OEM of 5,010 units and exports of 26,477 units.

Read here: Maruti Suzuki total sales in May rise 10% to 1.78 lakh units; PV sales up 15%

Exports during the month fell 2.6% to 26,477 units from 27,191 units, YoY.

In the passenger vehicle segment, the company's domestic sales increased 15.3% to 143,708 units as against 124,474 units, YoY.

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Updated: 02 Jun 2023, 02:42 PM IST
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