This is the ninth consecutive month that the company has cut production.
As per data filed to the bourses, the company produced 119,337 vehicles in October, which is a decline of 20.7% over 150,497 units produced in the year-ago period.
While the company reduced production of mini cars Alto, S-Presso and old WagonR 39% to 20,985 units in the month under review, those of compact cars (New WagonR, Celerio, Ignis, Swift, Baleno, DZire) was cut 13.6% to 64,079 units. Production of midsize sedan Ciaz dropped 45% to 1,922 units in the same period.
The company produced 22,736 utility vehicles (S-Cross, Ertiga, XL6, Vitara Brezza) during the month, as against 22,526 units in the year-ago period.
Production of vans Omni and Eeco declined 45% to 7,661 units last month. While that of light commercial vehicle Super Carry dropped 10% to 1,954 units.
Maruti Suzuki’s wholesale domestic passenger vehicle dispatches last month inched up by 2.3% to 139,121 units but its cumulative volumes in the first seven months have fallen by 23% to 802,643 units.
Given the dismal volume performance parent Suzuki Motor Corporation earlier this week revised downwards growth projections for the India subsidiary by a whopping 20%.
A guidance of 20% decline is a significant change from 4% growth the company had forecasted at the beginning of the fiscal year. At the best, Maruti Suzuki may cross 1.5 million units for the FY-20. To be sure, as part of its mid-term vision 2.0, Maruti Suzuki had set a target of attaining 2 million unit by 2020, with the 20% decline forecasted over last financial year, the company will be missing the target by a significant a half million units.