Maruti Suzuki posts highest ever domestic sales figures in September, led by the Baleno hatchback and festive demand
Maruti Suzuki India Ltd’s domestic sales jumped 29.4% to a record 1,37,321 units in September on back of a robust growth across all the segments over the same month a year ago, the company said in a statement on Saturday.
Even sales of its level models such as Wagon R and Alto, which had been under pressure for several months, rose at a brisk 24.8% to 44,395 units. Led by the Baleno hatchback, cumulative sales of compact cars also advanced 12.3% to 50,324 units over the last year. Aided by a strong run of the Brezza, utility vehicles sales during the month catapulted 191% to 18,423 units over a year ago period. It’s the highest ever sales in September and in the domestic market for the local arm of the Japanese car maker, the company said in a statement. Meanwhile, company’s exports too saw an increase of 54% to 11,822 units.
To be sure, besides the success of the new models such as the Brezza and Baleno, sales during the month have been driven to a record due to the festive season which begins from today with Navratra. Typically, auto firms stock up their dealerships in anticipation of demand during the festive season. They report despatches to dealers and not end buyers. With all the key festivals such as Navratra, Dusshera and Dipawali falling in the same month, October is going to be a big volume driver for auto, consumer durable and electronic firms. Companies are also hoping to reap dividends of a good monsoon and seventh pay commission payouts this festive season.
Sales of passenger vehicles, including cars have been expanding for more than a year and half in one of the fastest growing auto markets of the world. It grew 16.7% to 258,000 in August from the year-ago period. The brisk pace of growth promoted industry body Society of Indian Automobile Manufacturers (Siam) to revise its growth projections for the passenger vehicle industry to 11-13% in FY2017, as against an earlier forecast of 6-8%