Maruti Suzuki UV Sales Spike 57% in March, Overall Sales Up 15%

2 Apr 2024 , 12:29 PM

The top automaker in India, Maruti Suzuki, sold 1,52,718 passenger cars domestically in March 2024, up 15% year over year from 1,32,763 sales in the same month the previous year. Maruti Suzuki’s total domestic passenger vehicle sales increased by 9.5% to 16,06,870 units in FY23 from 17,59,881 units in FY24.

The Alto, S-Presso, Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR are all part of Maruti Suzuki’s Mini & Compact sector. Sales of these vehicles decreased by 2% year over year to 81,673 in March 2024 from 83,414 in March 2023. In the same time frame, UV sales recorded 58,436 units, a YoY growth of 57.7%.

The Brezza, Ertiga, Fronx, Grand Vitara, Invicto, Jimny, S-Cross, and XL6 models were among the UV sales that registered sales of 3,66,129 units in FY23, compared to 6,42,296 units in FY24, a YoY increase of 75.4%.

Shashank Srivastava, who was recently appointed to the Maruti Suzuki executive committee, discussed the company’s performance. He stated that March 2024 marked the company’s biggest monthly sales ever for a run of 15 consecutive months. He continued by saying that although the sector as a whole expanded at a rate of roughly 10% in March, Maruti saw growth of 15% due to increased demand for SUVs.

According to Srivastava, the demand for hybrid cars has been rising in India and seems to be expanding more quickly than that of electric cars. In the past year, over 99,000 electric automobiles and 89,000 hybrid cars—of which approximately 17,000 were sold by Maruti Suzuki—have been sold. Speaking at a meet-and-greet conference to reveal the sales figures, Srivastava added that, if one were to look at it that way, True Value, the pre-owned car company, saw sales of nearly 4.8 lakh vehicles, making it the fifth-largest automotive brand in India.

India has surpassed Japan to become the world’s third-largest passenger vehicle market after seeing sales of over 4 million vehicles for the first time. Additionally, at 11%, rural growth surpassed urban growth (7%).

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