Maruti Suzuki India will suspend production of petrol cars at one of its plants on Saturday, a company executive has said, as the automaker looks to cut inventory amid slowing sales.
The production cut at the Gurgaon factory, near the Indian capital, is only for Saturday, an anonymous executive told Reuters.
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Maruti sales fell 8% year on year in February with the industry bracing for its first decline in annual sales in a decade, as sluggish economic growth continues to hit demand.
Indian car makers have been hit by high interest rates and rising fuel costs. They had hoped incentives to boost the industry would be announced in the country’s budget last month, but instead saw taxes rise on some sports utility vehicles, risking growth in the market’s only bright spot.
