Maruti Suzuki India is seeing a lot of demand for the CNG version of its popular MPV Ertiga and is working to address supply bottlenecks, said Rahul Bharti, Chief Investor Relations Officer at the country's largest carmaker.
"Ertiga is one major car that has a lot of CNG traction in the market. And a good part of the wait list is on the Eritiga,” Bharti said at Maruti Suzuki's conference call post results announcement on April 26. “The capacity at Manesar largely addresses the Ertiga supply bottleneck."
Earlier today, the country's largest carmaker reported a 48 percent rise in its net profit to Rs 3,878 crore for the fourth quarter ended March 31, 2024, on account of higher sales volume and favourable commodity prices.
Also Read: Maruti Suzuki 3.0 to make 40 lakh cars a year by 2031, double the sales from now
Further, it registered a revenue of Rs 38,235 crore in the three months ended March 31. Additionally, the company declared its highest-ever dividend of Rs 125 per share.
Sequentially, overall sales volume grew by 16.5 percent quarter on quarter in Q4FY24 and net sales grew slightly lower by 15.2 percent QoQ owing to reduced CNG volumes due to a supply shortage of a particular component. The share of CNG in domestic sales also reduced sequentially to 26.9 percent in Q4 from 30.8 percent in Q3. “Now the supply of the CNG component is getting normalized and we don't see such a constraint going forward,” Bharti said.
Also Read: Maruti Suzuki Q4 net profit rises 48% to Rs 3,878 cr, firm declares Rs 125 dividend
“CNG sales in FY24 were around 4.5 lakh. Going ahead, we are hoping to do like 6 lakh vehicles in FY25,” he added. Further, the management said that the total pending bookings at the end of the quarter were about 2 lakh, out of which 1.11 lakh are on CNG.
In February 2024, Maruti Suzuki’s multi-purpose vehicle Ertiga crossed the 10 lakh sales milestone. The first Ertiga was launched in 2012, followed by its new version in 2018. It launched a next-gen Ertiga in 2022.
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