Suzuki just slashed its operating income forecast by 40% citing slower sales in India

The Japanese car making giant has been hit by severe slowdown in car sales in India.Suzuki shares have lost over a sixth of its share value this year due to the fear of depleting earnings.Maruti accounts for over 52% of Suzuki’s global sale volumes.India’s largest car maker Maruti Suzuki has cut production for eight months in a row due to lack of buyers. The depleting earnings for Maruti is affecting its Japanese parent Suzuki, who just announced a nearly 40% cut in its estimate for operating income this year.The shares of Maruti fell over 2% immediately after the announcement from Suzuki. “The Company hereby revises the consolidated business forecast due to decrease in Japan production in the course of restructuring final inspection scheme, slowdown in Indian automobile market, and exchange

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