Maruti Suzuki is slashing the prices for some of its cars, the company said in a press release on Monday.
What Happened: The auto manufacturer said that prices of some variants of Alto K10 and S-Presso have been reduced by ₹6,500 and ₹2,000 respectively. The new prices go into effect immediately.
Maruti also reported a 4% year-on-year drop in its August car sales to 1.81 lakh units. The company saw a similar dip last month. However, sales improved in August compared to July.
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| Category: Sub-segment | Models | Monthly Sales (August 2024) |
|---|---|---|
| A: Mini | Alto, S-Presso | 10,648 |
| A: Compact | Baleno, Celerio, Dzire, Ignis, Swift, WagonR | 58,051 |
| Mini + Compact Segment | 68,699 | |
| A: Mid-Size | Ciaz | 707 |
| Total A: Passenger Cars | 69,406 | |
| B: Utility Vehicles | Brezza, Ertiga, Fronx, Grand Vitara, Invicto, Jimny, XL6 | 62,684 |
| C: Vans | Eeco | 10,985 |
| Total Domestic Passenger Vehicle Sales (PV) | 143,075 | |
| Light Commercial Vehicles (LCV) | Super Carry | 2,495 |
| Total Domestic Sales including LCV (PV+LCV) | 145,570 | |
| Sales to other OEM | 10,209 | |
| Total Domestic Sales (PV+LCV+OEM) | 155,779 | |
| Total Export Sales | 26,003 | |
| Total Sales (Total Domestic + Export) | 181,782 |
The carmaker’s domestic sales fell 5% to 1.56 lakh units in August. Domestic passenger vehicles saw a total sales of 1.43 lakh units driven by the sales of Maruti’s utility vehicles. The segment, which includes vehicles like Brezza, Ertiga and Vitara, saw the highest sales of more than 62 thousand units, which was a 7% increase from a year ago.
More than 69 thousand passenger cars were sold in the month. Of these, the compact cars segment, which includes Baleno, Swift and WagonR, among others, saw the highest sales of more than 58 thousand units. Customers bought more than 10 thousand units of mini passenger cars which includes the discounted Alto and S-Presso models.
Exports accounted for 14% of the company’s total sales. A little over 26,000 cars were exported in the month.
Price Action: Shares of Maruti Suzuki were down 0.16% to ₹12,383.05 on Monday.
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