Maruti Suzuki Sales Jump 11% In February, Driven By Utility Vehicles
Maruti Suzuki India Ltd. reported 10.9 percent increase in sales in the month of February, as robust demand for compact and utility vehicles offset the fall in sales of small cars.
Total sales rose to 1,30,280 vehicles from 1,17,451 units in February 2016, according to the company's filing on the stock exchanges. Domestic sales jumped 11.7 percent to 1,20,735 vehicles, while exports rose 2.2 percent to 9,545 units.
Passenger vehicle segment sales grew 1.6 percent to 88,541, weighed down by a 6.8 percent fall in sales of mini segment vehicles, including the WagonR and Alto, and 26.9 percent decline in sales of super compact segment car - Dzire Tour. Maruti sold 33,079 mini vehicles and 2,574 Dzire Tours in February.
The compact and mid-size segments outperformed. Maruti sold 47,002 units of Swift, Ritz, Celerio, Ignis, Baleno, and Dzire, an increase of 9.4 percent year-on-year, and 5,886 Ciaz mid-size sedans, a jump of 14 percent.
Utility vehicles segment, which includes Gypsy, Ertiga, S-Cross and Vitara Brezza, remained the main growth driver for Maruti, with sales jumping 1.1 times to 17,863 vehicles.
Demand for Omni and Eeco vans also increased 13.7 percent to 14,195 units.
Shares of India's largest automaker jumped 1.29 percent to Rs 5,998.8 before cooling to Rs 5,952 as of 11:00 a.m.
Also Read: Eicher Motors' Sales Jump 19% In February; Investors Unimpressed
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