Apr 27 2021, 5:02 PM
April 27 2021, 2:24 PM
April 27 2021, 5:02 PM
(Bloomberg) Maruti Suzuki India Ltd.âs profit narrowed and earnings trailed estimates as a resurgent Covid-19 outbreak hit consumer demand in Asiaâs third-largest economy.
(Bloomberg) Maruti Suzuki India Ltd.âs profit narrowed and earnings trailed estimates as a resurgent Covid-19 outbreak hit consumer demand in Asiaâs third-largest economy.
Net income fell 9.3% to 11.7 billion rupees ($157 million) in the three months ended March 31, the unit of Japanâs Suzuki Motor Corp. said in a statement Tuesday. Thatâs less than the average analyst estimate of 17 billion rupees, according to data compiled by Bloomberg.
Provided by Dow Jones
By Trefor Moss SHANGHAI Chinese car sales declined 6.8% last year, as the world s largest market for automobiles shrank for a third straight year. Yet the single-digit drop counted as a success in the context of 2020, industry analysts said, with the coronavirus pandemic taking an even heavier toll on other markets. Global car sales are estimated to have fallen 15% last year, according to research firm IHS Markit, while U.S. sales are also expected to have dropped about 15%. In Q1 we projected much, much worse, said Lin Huaibin, an auto analyst at IHS Markit, after sales in China slumped 41% in the March quarter, during which parts of the country were in lockdown.