Maruti Suzuki on Monday announced a reduction in prices of select variants of Alto Kl0 and S-Presso.
The company informed through an exchange filing that the price of S-Presso LXI Petrol has been reduced by Rs 2,000 and price of Alto K10 VXI Petrol has been reduced by Rs 6,500 w.e.f 2nd September 2024.
The stock gained shortly after the price cut update and was trading at Rs 12,441.45 per share on the NSE, up 0.31 percent at 10.30 am.
The company on Sunday reported a 4 percent year-on-year decline in total sales in August at 1,81,782 units. The company had dispatched 1,89,082 units in the same month last year, Maruti Suzuki India (MSI) said in a statement.
Total domestic passenger vehicle wholesales stood at 1,43,075 units last month, marking an 8 percent decline from 1,56,114 units in the same month last year. Sales of mini cars, including the Alto and S-Presso, dropped to 10,648 units from 12,209 units a year earlier.
Compact car sales, which include models like Baleno, Celerio, Dzire, Ignis, and Swift, saw a 20 percent decrease, falling to 58,051 units from 72,451 units in the year-ago period. Meanwhile, utility vehicles such as Grand Vitara, Brezza, Ertiga, Invicto, Fronx, and XL6 registered sales of 62,684 units, up from 58,746 units in the previous year.
Shares of the company have delivered 20.93 percent returns in 2024 so far. In the last three years, it rose 83.08 percent, as per BSE data.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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!
