Maruti Suzuki Sees Exports Jump 57% In June, Shares Upbeat

Shares of Maruti Suzuki were accelerating after India’s biggest auto company posted its sales update for the month of June.

What Happened: The auto major’s total sales for the quarter came in at 1.79 lakh, up around 12.45% from the 1.59 lakh units it sold in June of 2023. Domestic sales for the period were at 1.48 lakh, up around 6% from the 1.39 lakh vehicles sold in the same period last year. The export sales saw massive growth going up over 57% year-on-year to 31,033 units.

Domestic passenger vehicle sales came in at 1.37 lakh, up around 3% from the 1.33 lakh vehicles sold in June 2023. The number was impacted as the passenger car segment saw around 7% moderation in sales in June.

Category/Sub-segmentJune 2024June 2023% Change
Total A: Passenger Cars74,01680,269-7.79%
B: Utility Vehicles52,37343,404+20.66%
C: Vans10,7719,354+15.14%
Total Domestic Passenger Vehicle Sales (PV)137,160133,027+3.11%
Light Commercial Vehicles (LCV)2,7582,992-7.82%
Total Domestic Sales including LCV (PV+LCV)139,918136,019+2.87%
Sales to other OEM8,2773,629+128.09%
Total Domestic Sales (PV+LCV+OEM)148,195139,648+6.13%
Total Export Sales31,03319,770+56.96%
Total Sales (Total Domestic + Export)179,228159,418+12.45%

Shares of Maruti jumped up sharply after the announcement was made. However, the jump was short-lived.

Price Action: Maruti Suzuki’s share price was up 0.61% to trade at ₹12,107.35 on Monday afternoon.

Read Next: Mahindra And Mahindra Total Sales Grow 9.17% To 1.16 Lakh Units In June

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