June 15, 2024 11:12:16 booked.net

Maruti Suzuki Achieves Record Monthly Sales in September and Crosses 1 Million Mark in H1FY24

Maruti Suzuki, the largest passenger car manufacturer in India, announced its highest-ever monthly sales in September 2023. The company reported a 2.8% year-on-year (YoY) increase in total wholesales, with 181,343 units dispatched to dealers compared to 176,306 units in the same month last year.

The total sales for the month comprised 153,106 units in domestic sales, 5,726 units sold to other original equipment manufacturers (OEMs), and 22,511 units exported.

In the April-September period, Maruti Suzuki achieved an impressive milestone, surpassing 1 million units in total sales. During the first half of the current fiscal year, the company dispatched 10,50,085 units, a significant increase compared to the 985,326 units delivered in the same period of the previous fiscal year. This marks the first time Maruti Suzuki has exceeded the half-yearly sales mark of 1 million units.

Total domestic passenger vehicle (PV) sales for September increased by 2% to 150,812 units, up from 148,380 units in the same month the previous year.

Sales of Maruti Suzuki’s entry-level cars, including the Alto and S-Presso, experienced a decline of 65%, dropping to 10,351 units from 29,574 units in the corresponding period last year. Sales of compact cars also decreased, with 68,552 units sold last month compared to 72,176 units in the previous year.

Notably, Maruti Suzuki’s PV market exceeded the 3 million-mark for the first time by the end of September.

In contrast, utility vehicle dispatches recorded a robust 82% increase, with 59,271 units delivered in September, compared to 32,574 units during the same period last year.

The company’s total export sales also saw growth, with 22,511 units exported, up from 21,403 units in the corresponding year-ago period.

Maruti Suzuki’s stock has seen notable gains, surging by over 11% in the past three months and posting a year-to-date (YTD) increase of more than 26%.

On Friday, Maruti Suzuki’s share price closed 0.33% higher at ₹10,601.70 per share on the BSE.