Mumbai: Maruti Suzuki India, the largest car manufacturer in India on Wednesday announced the closure of production operations of passenger vehicles in Gurugram and Manesar plants in Haryana for two days.
In communiqué to the stock exchange, Maruti Suzuki said: "Maruti Suzuki India has decided to shut down the passenger vehicle manufacturing operations of Gurugram Plant and Manesar Plant in Haryana for two days from September 7th 2019 and both days will be observed as no production days."
Similar read: Tax eating into biscuit makers biz
Owing to the economy slow down and drop in consumer purchasing power, the automobile sector in India is the worst-hit industry. Major automobile manufacturers have already started reporting declining sales.
Maruti Suzuki India suffered a 33.99 per cent decline in production in August at 111,370 vehicles against 168,725 produced in the year-ago month.
The company had produced 133,265 units in July, down from 178,533 units reported for the corresponding month of the last financial year (FY19).
In the mini and compact segment, Maruti Suzuki India produced only 80,909 vehicles as against 122,824 in August 2018. The company's total passenger vehicles output fell to 110,214 from 166,161 produced in the year-ago month.
Maruti Suzuki's shares on BSE fell 3.64 per cent and closed at Rs 5,829.75 per share on Wednesday.