Moneycontrol
Last Updated : Nov 01, 2018 01:23 PM IST | Source: Moneycontrol.com

Maruti Suzuki October sales grow 0.2% on tepid domestic, weak exports growth

Compact segment, which contributed 44 percent to total sales, registered a 3.7 percent growth in month gone by, Maruti Suzuki said.

Moneycontrol News @moneycontrolcom

Country's largest car maker Maruti Suzuki India reported tepid sales growth for October 2018 amid festive season, dented by marginal rise in domestic business and sharp fall in exports.

The company sold 1,46,766 vehicles in October 2018, a 0.2 percent on year growth compared to 1,46,446 sold in same month last year. It missed Nomura expectations of 1.57 lakh units.

Maruti said domestic sales grew by 1.5 percent year-on-year to 1.38 lakh units, but exports fell 17 percent to 8,666 units in month gone by.

Lower growth in utility vehicles (Vitara Brezza, Ertiga etc), mid-size (Ciaz) and slow growth in mini (Alto, WagonR) & compact (Swift, Ignis, Baleno, Dzire) segments hit sales volume during the month.

Overall passenger vehicle sales grew by 0.6 percent YoY to 1,35,948 units in October, with utility vehicles sales falling 11.2 percent.

Compact segment, which contributed 44 percent to total sales, registered a 3.7 percent growth in month gone by.

Its light commercial vehicles sales growth continued to be strong. Super carry sales grew by 146.8 percent YoY to 2,152 units.

At 10:26 hours IST, the stock was quoting at Rs 6,703.15, up Rs 94.20, or 1.43 percent on the BSE, which indicated that such a tepid growth may have priced in.

The stock corrected by 32 percent from closing levels of last year Rs 9,731.35 to all the way to Rs 6,608.95 on October 31.
First Published on Nov 1, 2018 10:33 am
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