Maruti Suzuki India’s stock fell more than 3% on Thursday following the company’s report of disappointing sales figures for July 2024. The decline came after the company’s total domestic sales and overall performance fell short of market expectations.
Sales Overview:
- Total Sales: Maruti Suzuki reported a 3.63% decrease in total sales, with 1,75,041 units sold in July 2024, down from 1,81,630 units in the same month last year.
- Domestic Passenger Vehicle Sales: The company’s domestic PV sales were 1,37,463 units, representing a 9.64% drop compared to 1,52,126 units in July 2023.
Segment-wise Performance:
- Mini Segment Cars: Sales of Alto and S-Presso increased slightly to 9,960 units from 9,590 units.
- Compact Cars: Sales of Baleno, Celerio, Dzire, Ignis, Swift, and WagonR fell to 58,682 units from 67,102 units.
- Utility Vehicles: The sales of Brezza, Ertiga, Fronx, Grand Vitara, Invicto, Jimny, and XL6 declined to 56,302 units from 62,049 units.
- Mid-sized Sedan: Ciaz saw a drop in sales to 603 units from 1,348 units in July 2023.
Export Performance:
- Total Exports: Exports increased to 23,985 units from 22,199 units year-on-year.
As of 9:17 am, Maruti Suzuki shares were trading 3.78% lower at ₹12,853.45, reflecting investor concerns over the company’s performance and sales figures
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Maruti Suzuki