Maruti Suzuki Shares Fall As December Total Sales Lower Than Estimates

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.
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