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Auto shares trade mix ahead of September sales data; Maruti Suzuki down 2.51%

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Shares of automobile manufacturing companies traded mixed during Friday’s intra-day session amid weak September sales data due to semi-conductor shortage.While Maruti Suzuki India Ltd shares were down 2.51 percent at Rs 7,150.70, Bajaj Auto recovered from early morning losses to trade 0.09 percent down at Rs 3,837.45.

Auto shares trade mix ahead of September sales data; Maruti Suzuki down 2.51%
Shares of automobile manufacturing companies traded mixed during Friday’s intra-day session amid weak September sales data due to semi-conductor shortage.
While Maruti Suzuki India Ltd shares were down 2.51 percent at Rs 7,150.70, Bajaj Auto recovered from early morning losses to trade 0.09 percent down at Rs 3,837.45.
Tata Motors was down 0.44 percent to trade at Rs 331.75 while Ashok Leyland was trading at Rs 133.30, down 0.41 percent.
Bajaj Auto's total auto sales in September 2021 stood at 4,02,021 units, down by nine percent from 441,306 units sold in September 2020.
The total auto sales are higher by 7.7 percent as compared with 3,73,270 units sold in August 2021.
Farm equipment manufacturer Escorts Agri Machinery was trading at Rs 1,463.05, down 1.15 percent. It reported 25.6 percent decline in tractor sales to 8,816 units in September.
The company had sold 11,851 units in September 2020.
"The impact of Covid-19 is going to be very harsh on the auto industry. As of now, we are staring into a very deep slowdown,” Rajan Wadhera, president of SIAM, told reporters.
”We don’t see the situation becoming normal – reaching 2018 volumes – for another 3-4 years,” he said.
In the fiscal year that began on April 1, sales of cars, sport utility vehicles (SUVs), motorbikes and trucks have already fallen 75% from a year ago to about 1.5 million vehicles, data released by the Society of Indian Automobile Manufacturers (SIAM) showed.
That compares with a peak of more than 26 million units in the fiscal year 2018-19 before a slowdown in consumer demand last year pushed auto sales 18% lower to 21.5 million.
 
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