Maruti Suzuki Sales Rise 10% in November

2 Dec 2024 , 01:39 PM

Maruti Suzuki India gained more than 2% to ₹11,325 in morning trade on December 2, 2024. The company said that total sales of the company have grown 10% year-on-year in November 2024 at 1,81,531 units, and in November 2023, the sales were at 1,64,439 units.

Mini car sales, which include S-Presso and Alto, was at 9,750 units from 9,959 units recorded last year. Sales of compact cars, which have Dzire, Baleno, Swift, WagonR among others decreased by 5.1% to 61,373 units as against the previous year sales of 64,679 units in November 2023.

Utility vehicles, consisting of Brezza, Grand Vitara, Ertiga, XL6 have picked up with 59,003 units as against the last year’s sales of 49,016 units in the same period Eeco van sales improved with 10,589 units against 10,226 units in the last year in November 2023. Light commercial vehicle Super Carry sold 2,926 units, compared with 2,509 units in the previous quarter.

Maruti Suzuki reported an 18% decline in its net profit at ₹3,103 crore in Q2 FY25. Revenue from operations for the quarter increased a mere 0.3% year-on-year to ₹37,449 crore, which is above estimates of ₹37,128 crore.

Profit came down partly on account of ₹1,018 crore deferred tax liability. The business has been adversely impacted by regulatory changes in indexation benefits and the rate of capital gains tax. Domestic sales volume declined 3.9% at 4.64 lakh units in Q2 FY25. It was not a local market that was easy. Exports volumes, however rose 12.1% at 77,716 units, with strong demand abroad.