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Maruti Suzuki cuts 3,000 Contract Tasks as Automobile Industry Faces Downturn

Maruti Suzuki India Ltd Chairman RC Bhargava stated on Tuesday the firm hadn’t renewed the contracts of 3,000 temporary workers since the automaker scrapped rising stock amid a downturn in demand.

Security standards and higher taxation have”added appreciably” into the price of automobiles, impacting their worth, Bhargava told investors at the business’s annual general assembly.

The business is on course to satisfy with the nation’s new emission standards, including that the company is going to proceed towards producing compressed natural gas (CNG) and hybrid automobiles.

Maruti plans to raise CNG vehicles by 50 percent this season, Bhargava said.