Maruti Suzuki March sales fall; stock up

Business

oi-Sunil

By Sunil Fernandes

Published: Tuesday, April 2, 2013, 12:35 [IST]

Sales at Maruti Suzuki dropped by 5 per cent in March to 1.20 lakh units, even as worries over a slow down in auto sales continued to bother the major car players.

The domestic sales were at 1.08 lakh units, down 4 percent from a year ago and it exported 12,047 units, down 9 percent.
Shares in Maruti were trading higher despite the news as the markets more or less discounted the news.

On Monday Tata Motors said that the sale of passenger vehicles for March 2013 were at 12,347 nos. Sales of the Nano/ Indica/ Indigo range in March 2013 were 8,903 nos. The company had sold as many as 37,000 passenger cars in the corresponding period of last year. Hyundai Motor India Ltd (HMIL) reported a decline of 13.46 per cent in domestic sales at 33,858 units, compared to 39,122 units in the year-ago period.

Meanwhile, Tata Motors reported a cumulative sales of commercial vehicles in the domestic market for the fiscal at 537,143 nos. Cumulative LCV sales were 393,762 nos., while M&HCV sales stood at 143,381 nos.

It's unlikely that passenger car sales is set to pick up anytime soon, given the slowdown in the economy. A cut in the interest rates may also not provide any major impetus to sagging sales of passenger car

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