Shares of Maruti Suzuki were falling on Tuesday after the carmaker decided to recall thousands of two of its most popular models due to a faulty component.
What Happened: Maruti Suzuki India has announced a recall for over 16,000 units of its Baleno and WagonR models due to a potential defect in the fuel pump. The recall affects 11,851 Baleno units and 4,190 WagonR units manufactured between July 30, 2019, and November 1, 2019.
This defect poses the risk of engine stalling or starting issues, prompting Maruti Suzuki to take proactive measures to prioritise customer safety.
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The company has assured that authorised dealer workshops will contact affected vehicle owners for the replacement of the faulty fuel pump, which will be provided at no cost to customers. Both the Baleno and WagonR are popular models in Maruti Suzuki’s lineup, catering to different market segments.
The WagonR is well known for its affordability as a budget hatchback, while the Baleno offers a more premium experience in the hatchback category. The price of the WagonR ranges from ₹5.54 lakh to ₹7.38 lakh, whereas the Baleno is priced between ₹8.07 lakh and ₹11.68 lakh (ex-showroom).
Price Action: Maruti Suzuki’s shares sank 0.92% to ₹12,224.10 in morning trade on Tuesday, following the recall.
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