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Maruti Suzuki Shares Fall As December Total Sales Lower Than Estimates

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Shares of Maruti Suzuki fell in Wednesday's trade as total sales for December month came in lower at 133296 units lower than brokerage estimates. Though, on a yearly basis total sales at the auto major have been up by 4%.

Maruti Suzuki Shares Fall As December Total Sales Lower Than Estimates
 

On a monthly basis, car sales in the domestic market registered an increase of 2.4% led by a surge in demand for compact cars such as new WagonR. In a regulatory filing to the exchange, Maruti said in December month the company sold 124,375 units in comparison to 121,479 vehicles sold in the same month a year ago, registering y-o-y sales increase of 3.5%. Exports also grew by 10% to 7,561 vehicles.

Sales of company's utility vehicles also increased by as much as 18% to 23,808 units This vehicle category registers higher sales in comparison to others and is indeed more profitable. Some of the cars offered in the segment include Ertiga, S-Cross, Brezza, Vitara etc.

Last, the stock of Maruti Suzuki quoted lower by 0.61% or Rs. 45.30 at Rs. 7323.30 per share on the NSE, while it made an intraday low of Rs. 7282.05.

GoodReturns.in

Read more about: maruti suzuki car sales
Story first published: Wednesday, January 1, 2020, 14:07 [IST]
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