Maruti Suzuki reports the biggest drop in domestic sales in 18 years

Maruti Suzuki announced the worst drop in domestic sales in 18 years. Group sales in June fell 19%. It was the worst reported since 2001-01. Maruti shares fell 25.5% this year and 23.3% last year. This decline is attributable to weak demand, regulatory changes and increased competition. The automotive sector is facing a vertiginous slowdown in the last 10 months. Several brokerages have downgraded Maruti Suzuki shares.
The net profit of Maruti Suzuki in June is down 27% from last year, the biggest drop in the last five years.