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Last Updated : Aug 12, 2020 11:08 AM IST | Source: Moneycontrol.com

Maruti Suzuki, Hero MotoCorp to raise production ahead of festive season: Report

Hero MotoCorp might hike production to 575,000 units in August and further raise it to 630,000 units by September.

 
 
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Maruti Suzuki India (MSI) and Hero MotoCorp are ramping up their production ahead of the festive season in October-November.

MSI is expected to manufacture 118,000 units in August and a potential 150,000 units by September, according to Business Standard report.

Hero MotoCorp might hike production to 575,000 units in August and further raise it to 630,000 units by September, the report said. The automobile manufacturer produced 525,000 units in July, the report added.

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Moneycontrol could not independently verify the story.

MSI had produced 105,345 units of passengers vehicles in July 2020, according to data released by the company on August 7.

Also read - July auto sales signal recovery: Should you buy stocks from the sector?

Spokespersons of MSIL and Hero MotoCorp declined to comment when contacted by Business Standard.

"We cannot give forward-looking statements on production volumes," an MSI spokesperson told the publication.

"Following stringent protocols for safety and wellbeing of its employees, Hero MotoCorp made significant progress in ramping-up the production across all of its eight manufacturing facilities - six in India and two at global locations,"  the company said in a statement on August 1.

During the past two months, component suppliers have been maintaining higher inventory after a request by auto companies, the report said. The companies are trying to create a safety net in the event that production hits a snag amid a rise in COVID-19 infections across the country.

Due to the COVID-19 outbreak and consequent lockdown, auto companies had recorded zero sales in April, but sales have picked up after restrictions were eased.
First Published on Aug 12, 2020 11:07 am
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