Maruti Suzuki India’s shares experienced a decline on Thursday in response to a recall notice issued for a specific batch of its vehicles.
Recall Details
The recall affects 2,555 Alto K10 vehicles manufactured within a certain timeframe. The company suspects a potential defect in the steering gearbox, which could impact the vehicle’s steering.
Maruti Suzuki has advised owners of the affected vehicles to avoid using them until the faulty part is replaced. The company has assured that authorized dealer workshops will contact the affected vehicle owners to arrange for inspection and replacement of the part, free of cost.
Previous Recalls
This is not the first time Maruti Suzuki has issued a recall this year. In March, the company recalled over 16,000 Baleno and WagonR vehicles due to a possible issue with the fuel pump. This defect could lead to engine stalling or starting problems.
Recent Sales Figures
Last week, Maruti Suzuki reported a 4% decrease in its total sales for July, reaching 1.75 lakh units compared to 1.81 lakh vehicles sold in July 2023. The compact segment, which includes models like Baleno, Celerio, Dzire, Ignis, Swift, and WagonR, witnessed the highest sales at 58,682 units during the month.
Price Action
Following the recall announcement, Maruti’s shares fell 0.12% to ₹12,356.30 on Thursday morning.
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