Mini cars which comprises of Alto and S-Presso models, had its production levels stood at 20,332 units last month as against 22,208 units a year ago
Auto sector is expected to see momentum ahead of the festive season and Maruti Suzuki may come out of its underperformance.
The auto major had already raised prices in January and April this year, with an overall hike of around 3.5%.
The output for September could between 1.8-2.15 lakh units, the lowest in close to a decade
Goldman Sachs maintains a ‘Buy’ rating on the stock with a price target of Rs 9,036 apiece.
Maruti Suzuki produced 1.7 lakh units in July but it was slashed to 1.33 lakh units in August
The global semiconductor shortage has forced the carmaker to further slash its output.
The company said that due to an increase in various input costs, the price of vehicles was severely affected over the past year.
Despite a subdued quarter, most companies gave a strong outlook going forward, with demand expected to improve from Q2FY2022
The manufacturing industry has been on a declining trend and is not healthy for growing the competitiveness of the component industry