Maruti Suzuki shares extend gains for 2nd day on bullish management commentary post-December car sales

Maruti Suzuki shares extend gains for 2nd day on bullish management commentary post-December car sales

Shares of Maruti Suzuki India Ltd (MSI) extended their gains for second straight day on January 2 on bullish management commentary on the strong car sales seen in December.

Partho Banerjee, Senior Executive Officer - Marketing & Sales, Maruti Suzuki India Limited told CNBC-TV18 that dealer network stock is for just nine days and that the auto major has over 2 lakh pending bookings.

"All product segments fired on all cylinders in December, monthly household incomes are not increasing in-line with vehicle costs," said Banerjee.

"Dealer network stock is for just nine days, with over 2 lakh pending bookings. Maruti will unveil plans for a complete electric vehicle ecosystem at the Bharat Mobility Global Expo," added Banerjee. He further said that the company will stay technology agnostic to maintain market share.

At 10:45 am on January 2, Maruti Suzuki shares were trading 3% higher at Rs 11,545 apiece.

Maruti Suzuki India Ltd on January 1 reported 30% rise in total wholesales at 1,78,248 units in December 2024 as compared to 1,37,551 units in the same month a year ago.

Overall domestic sales, including that of light commercial vehicles and supplies to Toyota Kirloskar Motor, were at 1,32,523 units last month as against 1,06,492 units in December 2023, up 24.44%, MSI said in a regulatory filing.

Total domestic passenger vehicle (PV) sales were at 1,30,117 units in December 2024 as compared to 1,04,778 units in the same month a year ago, up 24.18%, it added.

MSI said its exports in December were higher at 37,419 units as compared to 26,884 units in the same month a year ago.