Maruti Suzuki's shares dived nearly 6 percent on Monday hitting a 2-year low after the company said it has cut vehicle production for the fifth consecutive month.

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At 01:46 pm, the share price was trading lower by 5.67 percent to Rs 5,999.20 per share on the NSE. Intraday, the stock plunged 6 percent to it's day's low at Rs 5,985.65, below Rs 6,000 first time in 2 years.

The auto major has slashed the production volume for mini cars (Alto, Old and New Wagon R, Celerio, Ignis, Swift, Baleno, Dzire) by 48 percent to 15,087 units in 2019 as against 29,131 units in 2018.

The mid-size segment (Ciaz) has received a production cut of 46 percent to 2,543 units this year compared to 4,701 units built last year. This year, 17,074 units of utility vehicles (Gypsy, Vitara Brezza, Ertiga, S-Cross) will be produced as against 18,023 units in 2018.

Super Carry's production (Light Commercial Vehicle) has been slashed by half to 2,276 units from 1,548 units last year.

The car market leader had cut total production by over 18 percent in May. Similarly, it had slashed production by around 10 percent across its factories in April.

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First Published:Jul 8, 2019 2:12 PM IST