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Maruti Suzuki July Sales See Steepest Fall In 5 Years

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The country's largest car manufacturer reported a 33.5 percent fall in its total vehicle sales to 1,09,264 units for the previous month from 1,64,349 units in July 2018, according to its stock exchange filing. This is the highest monthly sales dip experienced by Maruti Suzuki since August 2012.

Maruti Suzuki July Sales See Steepest Fall In 5 Years
 

The company's sales in the mini car segment declined by 69.3 percent to 11,577 units. Sales of compact segment dropped 22.7 percent to 57,512 units, while sales of utility vehicles fell by 38.1 percent to 15,178 units.

Further, number of vans sold were 37.9 percent lower at 9,814 units and sales of Super Carry increased by 0.5 percent to 1,732 units.

Overall, total domestic sales declined by 36.3 percent to 96,210 lakh units and total exports were 9.4 percent lower at 9,258 units.

Sales in the automobile business has been falling every month for close to a year now. According to a report by rating agency India Ratings and Research, manufacturers cut their production by 11 percent in the April-June quarter in the passenger and commercial vehicles as well as two-wheeler segment, as sales continued falling.

Banks have expressed concerns of growing stress in loans given to automobile dealers as the industry deals with its worst sales in over a decade. Experts have estimated a total of Rs 70,000-80,000 crore in outstanding loans to automobile dealers.

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