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Maruti Suzuki to recall 2,555 Alto K10 units for steering gearbox assembly defect. Affected owners are advised not to drive until the parts are replaced. On Wednesday, the company’s stock closed at ₹12,381, up 2.06%, with a YTD return of 20.40% in 2024.
Maruti Suzuki, India's largest carmaker, announced a recall of 2,555 units of its Alto K10 model due to a potential defect in the Steering Gear Box Assembly. The company issued this recall as a precautionary measure, emphasising that in rare cases, the defect could impact the vehicle's steerability.
Maruti Suzuki has advised the affected vehicle owners to refrain from driving or using their cars until the defective part is replaced. The company assured that it would reach out to the owners through authorised dealer workshops to inspect and replace the faulty part free of cost.
This recall follows a significant recall in March 2023, when Maruti Suzuki had to recall over 16,000 units of its popular models, Baleno and WagonR, due to a defect in the fuel pump motor. The defect was suspected to potentially cause engine stalling or starting issues in rare cases.
Despite the recall news, Maruti Suzuki's share price showed positive performance. The stock price closed at ₹12,381 on Wednesday, marking an increase of ₹249.90 or 2.06%. So far in 2024, Maruti Suzuki shares have delivered a return of 20.40%, with a 12-month return standing at 29.75%. The stock will remain in focus today.
Maruti Suzuki's proactive recall measures underscore the company's commitment to vehicle safety and customer satisfaction. The timely intervention and free replacement service aim to mitigate any potential risks associated with the defect, ensuring the continued reliability of its vehicles.
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