According to a regulatory filing, Maruti Suzuki India Ltd is recalling 9,925 units of its three models, the Wagon R, Celerio, and Ignis, to address a possible fault with the rear brake assembly pin. The autos in concern were manufactured between August 3 and September 1, 2022.
“It is suspected that there is a fault in the rear brake assembly pin (‘Part,’ which may break and generate a peculiar noise in some circumstances. Long-term braking performance may decrease as a result “Maruti Suzuki India Ltd acknowledged this in a BSE filing.
Given the importance of customer safety and the necessity for extra precaution, the company has elected to recall the suspicious vehicles for investigation and free replacement of the faulty part.
The company indicated that “necessary repair, if required, will be undertaken following inspection” and that “items for replacement are being purchased.”
On Friday, Maruti Suzuki reported a more than fourfold increase in year-on-year (YoY) net profit for the quarter that ended September 2022. The company’s revenue climbed by 46% to Rs 29,931 crore. This quarter, 517,395 copies were sold, a 36% increase over the same period last year.
Maruti Suzuki automobile sales were 114072 units in September 2022. Maruti Suzuki WagonR sold 20078 vehicles in September 2022, representing an 8.37 percent increase year on year. In comparison, the Maruti Suzuki Celerio sold 5390 units in September 2022, representing a 7.89 percent decrease year on year.
Separately, Maruti has witnessed a large boost in profit between July and September of this year, owing to the debut of two new SUVs, the 2022 Brezza and the new Grand Vitara. The carmaker just released its quarterly report, touting a four-fold boost in earnings despite record pre-Christmas sales thanks to its two new models.
The Brezza went on sale on June 30, while the Grand Vitara, which replaced Maruti’s last compact SUV, the S-Cross, received over 55,000 bookings within days of its September debut. Maruti Suzuki controls more than 40% of the market, thanks mostly to its dominance in the small car segment.
Maruti Suzuki India Limited, originally Maruti Udyog Limited, is a New Delhi-based Indian vehicle manufacturer. It was founded in 1981 and was owned by the Indian government until 2003 when it was sold to the Japanese automaker Suzuki Motor Corporation. Maruti Suzuki had a 44.2 percent market share in the Indian passenger car industry as of February 2022.
The Government of India founded Maruti Udyog Limited on January 24, 1981, with Suzuki Motor Corporation as a junior partner, only to become Suzuki’s formal JV partner and license holder in August 2021. Maruti launched its first manufacturing factory in Gurugram, Haryana, in the same year.
Also Read : NTPC consolidated profit slips 7% YoY in Q2, complete analysis
168 total views, 1 views today