Shortage of electronic components likely to impact production in FY24: Maruti Suzuki

The country’s largest car maker Maruti Suzuki India on Monday said its production volume could be hit in the current fiscal with the supply situation of electronic components remaining unpredictable.

The auto major said the shortage of electronic components had some impact on the production of vehicles in the last financial year as well. ”As the supply situation of electronic components continues to be unpredictable, it might have some impact on the production volume in FY 2023-24 as well,” Maruti Suzuki India said in a regulatory filing.

The carmaker produced a record 19.22 lakh units in 2022-23. It, however, fell short of its target of taking the overall production to 20 lakh units in the last fiscal. In March this year, the company’s total production, including passenger vehicles and light commercial vehicles, stood at 1,54,148 units, down 6 per cent from 1,63,392 units.

Production of total passenger vehicles declined to 1,50,820 last month, as compared with 1,59,211 units in March 2022. Production of mini and compact segment cars dropped to 1,08,001 units last month from 1,09,676 units in March 2022.