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Informist, Friday, Nov. 1, 2024

 

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--Maruti Suzuki: Oct domestic sales 173,266 units vs 177,266 year ago 
--Maruti Suzuki: Oct exports 33,168 units vs 21,951 year ago 
--Maruti Suzuki: Oct mini car sales 10,687 units vs 14,568 year ago 
--Maruti Suzuki: Oct compact car sales 65,948 units vs 80,662 year ago 
--Maruti Suzuki Oct Ciaz sedan sales 659 units vs 695 year ago 
--Maruti Suzuki Oct utility vehicle sales 70,644 units vs 59,147 year ago 
--Maruti Suzuki: Oct total sales 206,434 units vs 199,217 year ago

 

MUMBAI – Maruti Suzuki India Ltd. on Friday reported the highest-ever monthly sales as strong growth in despatches of utility vehicles, sales to other companies, and exports helped offset weak sales in other segments. India's largest passenger vehicle maker sold a total of 206,434 units in October, compared to 199,217 units in the year-ago period and 184,727 units in September, according to an exchange filing by the company.

 

In the utility vehicle category, the automaker sold 70,644 units in India in October, up 19% on year. This is the highest monthly sales of utility vehicles recorded by the company in at least 19 months since April 2023. Currently, Maruti Suzuki offers models such as Brezza, Ertiga, Grand Vitara, Fronx, Invicto and Jimny in the utility vehicle category.

 

In the passenger car category, which includes mini, compact, and mid-size sub-segments, Maruti Suzuki sold 77,294 units in India in October, down from 95,925 units sold a year ago.

 

In October, the automaker sold a total of 10,687 mini-cars in India, down nearly 27% from a year ago. Sales of compact cars declined 18% on year to 65,948 units, and sales of mid-size vehicle sales fell 5% on year to 659 units. In the mini, compact and mid-size categories, Maruti Suzuki offers models such as WagonR, Baleno, Swift, Alto, S-Presso and Ciaz.

 

The company's total domestic sales, including passenger and light commercial vehicles and sales to other original equipment makers, fell 2% on year to 173,266 units in October. Maruti Suzuki's domestic passenger vehicle sales were down 5% on year at 159,591 units, while sales to other original equipment makers jumped 90% on year to 10,136 units. In October, the company sold 3,539 light commercial vehicles, down 9% on year. The company's total exports during the month surged 51% on year to 33,168 units, aiding the overall sales growth.

 

Cumulatively for Apr-Oct, Maruti Suzuki sold a total of 1.27 million units, up 1.6% on year. The sales in the first seven months of 2024-25 (Apr-Mar) were driven by despatches of utility vehicles and light commercial vehicles, and sales to other companies, and exports. During the period, the company sold 414,309 utility vehicles in India, up 13% on year, and 19,970 light commercial vehicles, up 3% on year. Sales of other original equipment makers jumped by a massive 87% on year to 64,233 units, and its exports rose 17% on year to 181,444 units.

 

In the last few months, Maruti Suzuki has reduced despatches to dealers to bring down its inventories to an ideal level of 30 days. In September, the auto industry's passenger vehicle inventory at dealerships had reached historically high levels of 80-85 days due to weak demand during Ganesh Chaturthi and Onam festivals, uncertain weather conditions, and the inauspicious Shraddh period falling completely in the month of September.

 

After Maruti Suzuki's Jul-Sept earnings announcement on Tuesday, the automaker's Chairman R.C. Bhargava had said in a media call that the company's dealers were carrying well over 30 days of inventory in the last few months. The company had been systematically planning production to cut output to suit the market requirement and to bring down inventory. "We have reduced wholesale dispatches so that inventories can come down," Bhargava said.

 

During the same call, the company's head of marketing and sales, Partho Banerjee, said it plans to bring down inventory with dealers to around 30 days. "It will vary from segment to segment, but we will be comfortably placed. But maybe in the case of some small cars, we will have inventory of 40 to 45 days. But we expect to correct that in the third quarter," he said.

 

For Jul-Sept, Maruti Suzuki posted a 17% on-year fall in net profit to INR 30.69 billion on account of higher tax expense. Revenue came in at INR 372.03 billion against INR 370.62 bln a year ago. On Thursday, shares of Maruti Suzuki closed 1.6% lower at INR 11,076.45 on the National Stock Exchange.  End

 

Reported by Darshan Nakhwa 

Edited by Ashish Shirke

 

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