Maruti Suzuki saw a steady sales growth of 12.2 percent for the month of August with a total sale of 1,32,211 units compared to the same period last fiscal. The total number includes 1,19,931 domestics sales and 12,280 units of exports.
Mihir Jhaveri, of Religare Capital Markets is happy with the numbers and said the house still has a buy rating on the stock because there is no competition for Maruti, especially at that scale and size it operates.
According to him the next two years will be very good for the company.
Overall the numbers were in line with the estimates for them, said Jhaveri, adding that the mini segment saw some pressure because of constraint on capacity and competition from the likes of Renault Kwid.
However, for the cars above Rs 5 lakh the sales were good, said Jhaveri.
He said the sales trend going forward would remain around 1.3 lakh units or be only slightly higher.
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