Maruti Suzuki drops as total sales slide 3% YoY in July 2024

Maruti Suzuki India slipped 3.04% to Rs 12,943.20 after the company informed that its total sales declined 3.63% to 1,75,041 units in July 2024 as against 1,81,630 units sold in July 2023.

Sequentially, the auto major's total sales fell 2.34% as compared with 179,228 units sold in June 2024.

The sales of domestic passenger vehicles stood at 137,463 units (down 9.63% YoY) while sales of light commercial vehicles came in at 2,891 units (up 12.97% YoY) during the period under review.

While the company's total domestic sales (PV+LCV+OEM) declined by 5.25% YoY to 1,51,056 units in July 2024 as against 1,59,431 units recorded in July 2023. The total sales exports grew by 8.04% year on year to 23,985 units sold in July 2024.

Meanwhile, the car manufacturer announced that its total production fell marginally to 1,85,641 units sold in July 2024 as compared with 1,86,654 units sold in July 2023.

The production of passenger vehicles stood at 1,82,841 units (up 0.06% YoY) and production of light commercial vehicles was at 2,800 units (down 28.59% YoY) during the period under review.

Maruti Suzuki India is engaged in the manufacture, purchase and sale of motor vehicles, components, and spare parts (automobiles).

The auto major company reported 46.87% jump in standalone net profit to Rs 3649.9 crore on 9.91% rise in revenue from operations to Rs 35,531 crore in Q1 FY25 over Q1 FY24.

Powered by Capital Market - Live News