Maruti hits new 52-wk high as Oct sales accelerate 86%
Shares of India's largest passenger car maker Maruti Suzuki rose over 1 percent on Thursday to hit a new 52-wk high as its October sales accelerated 86 percent year-on-year to 1,03,108 units.
November 02, 2012 / 06:46 IST
Moneycontrol Bureau
Shares of India's largest passenger car maker Maruti Suzuki rose over 1 percent on Thursday to hit a new 52-wk high as its October sales accelerated 86 percent year-on-year to 1,03,108 units. The sales growth, coming amid the festive season, was led by rebound in small car dispatches and continued strong sales of the Swift hatchback, DZire compact sedan and multi utility vehicle Ertiga, which was launched only in April. It should also be noted that Maruti's production and supplies in October last year were hit by a labour unrest at its Manesar plant. Both the Swift and DZire, among its top selling cars, are made at the Manesar plant. On a year-on-year basis, Maruti's domestic sales in Oct rose 87 percent to 96,002 units and exports were up 72 percent 7,106 units. The company's sales over April-Oct are up 7 percent at 6,29,380 units. Segment wise in Oct, its mini car sales, which include the 800, Alto, A-Star and WagonR, jumped 69 percent to 42,233 units. Sales in this segment have been slow over the last one year due to expensive loans and high petrol prices. The company last month launched all new Alto 800, which has already received over 30,000 bookings and should boost demand going ahead.Elsewhere, sales of Maruti's compact cars, which include the Swift, Ritz and Estilo, more than doubled to 22,459 units and DZire sales were up 188 percent to 14,389 units. Utility vehicles, led by Ertiga, jumped to 7,400 units, compared with just 270 units a year ago. Demand for vans, however remained under pressure, sales were down 12% to 8,791 units, last month.At 11:00 hrs, Maruti shares were up 1% at Rs 1,452.65 on NSE. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
