Maruti Suzuki India (MSI) plans to drive in CNG trims across its product range as it remains bullish over long-term prospects of the segment amid increase in fuel prices and drop in diesel car sales, according to a senior company official.
The company, which sold around 1.62 lakh CNG cars last fiscal year, is also counting on the rapid expansion of CNG dispensing outlets across the country to bring in more CNG products.
India’s biggest domestic car manufacturer Maruti Suzuki India reported a 65.3 per cent year-on-year (YoY) decline in net profit at Rs 475.3 crore for the July to September quarter of FY22 (Q2FY22). It was Rs 1,371.6 crore in Q2FY21.
On a sequential basis, the profit rose 7.8 per cent from Rs 440.8 crore.
The country's largest carmaker Maruti Suzuki India on Wednesday said its total production in August declined by 8 per cent on a yearly basis to 1,13,937 units as semiconductor shortage impacted its manufacturing schedules.
The company had produced a total of 1,23,769 units in the year-ago period, Maruti Suzuki India (MSI) said in a regulatory filing.
Shares of auto companies were trading with up to 19 per cent cut on the NSE on Thursday as panic selling continued amid growing fears of economic dislocation due to pandemic Coronavirus (Covid-19).
Nifty Auto index hit a six-year low today. At 10:33 am, the index was trading 7.5 per cent lower at 5,102 levels with 14 out of 15 components declining. In comparison, the benchmark Nifty50 index was hovering around 8,000 levels, down 466 points or 5.5 per cent.
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