Maruti Suzuki India Limited, formerly known as Maruti Udyog Limited, is an automobile manufacturer in India. It is a 56.21% owned subsidiary of the Japanese car and motorcycle manufacturer Suzuki Motor Corporation.
The festival season discount is back, but what would cheer the shoppers more this time are the sharper discounts offered by retailers across categories from kitchenware and electronic items to apparels to clear off the inventory.
The government is sensitive towards the slowdown in the auto industry, a senior Maruti Suzuki official said on Thursday.
Automobile major Maruti Suzuki India, here on Monday, reported a 33.99 per cent decline in production in August at 111,370 vehicles against 168,725 produced in the year-ago month.
The automobile industry continued to be in the slow lane in August with all major players reporting significant declines in their respective sales.
After their 15-year hiatus from Mumbai Lakme Fashion Week, couturiers Rohit Gandhi and Rahul Khanna are set to make a comeback to the winter/festive show of the mega fashion event.
Faced with the nightmarish prospect of job losses, auto sector employees have sought government's intervention through relief measures for the industry dented by truncating demand.
The consumption slowdown that dented auto industry' sales and production has now percolated to the local economy, causing hardships to thousands of small businesses that supply parts along with services like logistics to the key manufacturing sector.
A massive slowdown led by truncating demand has forced the entire value-chain operators across the automobile industry to reduce production levels and downsize workforce to tide over lean times.
Forced to cut down production in the face of falling sales, automakers have urged the government for a relief package to boost consumer sentiment.
Former Union Minister Kapil Sibal on Monday said the economy is going through a "very difficult" phase as many sectors are in doldrums which were "not good" signs so far as the government's five trillion dollar economy target is concerned.