Maruti Suzuki India share price slipped more than 1 percent in the morning trade on September 1 as the caremakers company expects production to take a hit during the month due to chip shortage.
"Owing to a supply constraint of electronic components due to the semiconductor shortage situation, the company is expecting an adverse impact on vehicle production in the month of September in both Haryana and its contract manufacturing company, Suzuki Motor Gujarat Pvt. Ltd. (SMG) in Gujarat," the company said in its release.
Though the situation is quite dynamic, it is currently estimated that the total vehicle production volume across both locations could be around 40 percent of normal production.
The company will also be going for an across the board price hike for its vehicles this month to offset the increasing cost of raw material.
The increase in price would be substantial because commodity price continued to be very high, Shashank Srivastava, Senior Executive Director, Maruti Suzuki India, told Moneycontrol.
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At 0937 hours, Maruti Suzuki India was quoting at Rs 6,763.40, down Rs 80.85, or 1.18 percent on the BSE.
The share touched a 52-week high of Rs 8,400 on January 13, 2021 and a 52-week low of Rs 6,273.70 on September 24, 2020. It is trading 19.48 percent below its 52-week high and 7.81 percent above its 52-week low.
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