Maruti Suzuki News: Maruti Suzuki expects robust demand amid Covid-19 wave | – Times of India

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NEW DELHI: Maruti Suzuki on Tuesday said the exponential surge in Covid cases across the country would strengthen demand for personal mobility, and that lockdowns in some cities had not yet hurt the carmaker’s sales or production.
MSIL Chairman RC Bhargava said, “I see the second wave of coronavirus strengthening the demand for personal transport. Company’s investments for FY22 are on track and we are producing in full capacity to meet the pent-up demand.”
Centre had announced a nationwide lockdown last year to curb the spread. Economic activities halted and as a result a steep fall in car sales. Maruti Suzuki posted a strong sales number post-lockdown. The largest carmaker sold 1,361,722 units in the domestic market in FY21, recording 6.8 per cent drop.
According to Bhargava, the government is unlikely to implement another nationwide lockdown due to its ill effect on the economy. He said, “Production is in full swing and labour is available. Maruti Suzuki India’s workforce stands close to 30,000 and around 1,200-odd wagers have been Covid infected. They have been offered necessary medical facility.”
Meanwhile, the exports for MSIL also declined by 5.9 per cent in FY21 at 96,139 units. Bhargava was, however, bullish on the revival of the market, and said the company is expecting to ship at least 1.30 lakh units this financial year.
Maruti’s fourth-quarter results took a hit due to rising commodity prices and supply chain disruptions, with its EBITDA margin slipping to 8.3% in the March quarter and falling short of analysts’ estimate of 9.1%, according to Refinitiv data.



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