It is a well known fact that Maruti Suzuki are the largest car manufacturers in India. They record a loss in business for the first time since 2013 the year of getting listed on the stock exchange as the sales was badly hit due to the outbreak of coronavirus. The Revenue goes down to 80%. The April-June quarter has experienced nil production and sales. The net loss amounts to Rs.249.4 crores.
The loss was offset to some extent with lower operating expenses. It is treated as an unprecedented quarter in the company's history. The production started in a very small way in May 2020. But still the sales figure is nil. It was only a two weeks of regular working. The safety measures undertaken proved beyond compliance level. The total sales was 76,599 vehicles in the quarter while more than four lakhs vehicles sold in April-June 2019.
Maruti Suzuki being a market leader in the car industry were standing low and looking mediocre due to the COVID-19 pandemic situation.
Let's look forward eagerly to end coronavirus to bring cheer to car lovers.
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