Maruti Suzuki December Sales Surge 30%

1 Jan 2025 , 04:05 PM

Maruti Suzuki India Ltd, India’s leading carmaker, reported a 30% rise in sales for December 2024, pushing its shares higher on January 1, 2025. The company sold 1.78 lakh vehicles in December, a 29.6% increase compared to 1.37 lakh units in the same month last year, beating market expectations of 1.63 lakh units.

Domestic sales volume increased by 27.3% year on year to 1.41 lakh units from 1.10 lakh units last year, which it said reflected a strong demand in the local market.

Passenger vehicle (PV) sales in India too have increased by 24.2% at 1.30 lakh units from 1.05 lakh units in December 2023. Exports were an outlier for Maruti, which saw a growth of 39.2% to 37,419 units against 26,884 units last year, signifying increasing global reach.

The company will raise car prices up to 4% from January 2025 due to increased input and operational costs. Maruti assured its customers that it is working to optimize the costs, but it has to pass some of the burden to maintain the operations.

Maruti saw the profitability get knocked off a step in September quarter 2024. Company EBITDA margins fell to the lowest of the last three quarters at 11.9%, and there was some cost of the extra promotional expenditure while realizations flatlined.

Car maker stocks rise 2.78% to ₹11,160.05 post the sales numbers. It remains down 18% from an all-time high ₹13,680.