Maruti Suzuki Sees 4% Dip In July Sales, Exports Improve

Maruti Suzuki reported its sales for the July month on Thursday.

What Happened: The auto major reported a 4% dip in its total sales to 1.75 lakh units from 1.81 lakh vehicles sold in July 2023. The total sales of passenger cars also declined 11% to 69,245. Vehicles in the compact segment, which include cars like Baleno, Celerio, Dzire, Ignis, Swift and WagonR saw the highest sales at 58,682 units in the month.

The utility vehicles segment, which includes Brezza, Ertiga, Grand Vitara and XL6, was the next best performer with 56,302 units sold.

Category/Sub-segment	July 2024	July 2023	% Change
Passenger Cars	69,245	78,040	-11.27%
Utility Vehicles	56,302	62,049	-9.26%
Vans	11,916	12,037	-1.01%
Total Domestic Passenger Vehicle Sales	137,463	152,126	-9.64%
Light Commercial Vehicles (LCV)	2,891	2,559	+12.97%
Total Domestic Sales including LCV (PV+LCV)	140,354	154,685	-9.25%
Sales to other OEM	10,702	4,746	+125.38%
Total Domestic Sales (PV+LCV+OEM)	151,056	159,431	-5.26%
Total Export Sales	23,985	22,199	+8.06%
Total Sales (Total Domestic + Export)	175,041	181,630	-3.63%

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The company's total domestic sales stood at 1,51,056 vehicles, a 5% year-on-year decline. Maruti exported nearly 24,000 vehicles, an improvement from the year-ago period.

Maruti's shares raced to an all-time high this morning after the company reported blockbuster earnings on Wednesday. The auto giant’s standalone net profit for the quarter accelerated 47% to ₹3,649.9 crore, whereas revenue from operations saw a 10% increase to ₹35,531 crore.

Most brokerages seemed upbeat about the company's health with Morgan Stanley having an "overweight" call on the stock. Jefferies, ICICI Securities and HDFC Securities were also bullish on the stock.

Price Action: Share of Maruti Suzuki closed 1.73% higher at ₹13,343.05 on Thursday.

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