Shares of Maruti Suzuki slumped at market open on Monday after the automaker recalled vehicles of two models owing to a potentially faulty steering system.
What Happened? The carmaker has issued a recall for 87,599 vehicles of the S-Presso and Eeco models due to a potential defect in the steering tie rod.
The affected vehicles, manufactured between July 5, 2021 and February 15, 2023 are subject to the recall starting July 24, according to an exchange filing.
Maruti Suzuki India stated that there is a rare possibility of a defect in the steering tie rod of these vehicles that could lead to breakage and affect the vehicle’s steerability and handling.
Vehicle owners affected by the recall will receive communication from Maruti Suzuki’s authorised dealer workshops for a free inspection and replacement of the faulty part.
Price Action: Maruti Suzuki shares dropped 0.66% to trade at ₹9624 on Monday in early morning trade.
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