Maruti Suzuki Sales Fall 2.6 Per Cent In Jan; Scrip Down Over 2 Per cent

Posted By: Religare
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Maruti Suzuki, the country's largest car manufacturer, disappointed on its January sales numbers which dropped 2.6 per cent to 1.13 lakh vehicles in January 2016, weighed down by sluggish exports and low sales of mini and Compact cars.

The company had sold 1.16 units during the same period last year, the company said in a filing to the Bombay Stock Exchange.

Maruti Suzuki Sales Fall 2.6 Per Cent In Jan; Scrip Down Over 2 Per cent
Maruti Suzuki India: Quotes, News
BSE 9321.35BSE Quote37.65 (0.40%)
NSE 9323.95NSE Quote44.75 (0.48%)
Maruti exported 7,223 vehicles during the month, lower by 34.6 per cent compared to 11,047 vehicles sold in year-ago period while domestic sales increased 0.8 per cent to 1.06 lakh vehicles in same period.

Utility vehicles and super compact (Dzire Tour) cars performance remained strong. It sold 8,114 units in utility vehicles segment, higher by 26.2 per cent over a year ago period led by S-Cross (launched in August 2015) and Ertiga while super compact cars sales jumped 157.3 per cent to 3,545 units year-on-year.

The company sold 44,575 vehicles under compact car segment, lower by 2.8 per cent on yearly basis. It indicated that Baleno, which launched in October 2015, could not be able to drive sales.

Ciaz, which comes under mid-size car segment, sales also slipped 9.6 per cent followed by 4.3 per cent decline in mini car segment.

Meanwhile, shares of the company were trading at Rs 4000 apiece, down 2.39 per cent from the previous close at 11:23 hours on BSE.

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