Maruti Suzuki India Ltd. posted eight consecutive months of sales growth, driven by demand for its compact cars including Ignis, Baleno and Celerio.
The country's largest carmaker sold 1.63 lakh vehicles, an increase of 23.8 percent from the corresponding month in 2016, the company said in an exchange filing. The consensus estimate of analysts tracked by BloombergQuint stood at 1.63 lakh vehicles.
Total passenger car sales rose 28.4 percent to 1.15 lakh vehicles. Domestic sales rose 26.7 percent to 1.52 lakh units, while exports declined 4.7 percent to 11,701 lakh units.
Segment-Wise Sales Performance
- Mini segment (Alto and WagonR) fell 0.2 percent to 35,428 units.
- Compact segment (Swift, Baleno and Ignis) rose 62 percent to 74,012.
- Utility vehicles segment (Ertiga S-Cross and Vitara Brezza) rose 27.6 percent to 21,442 units.
- Mid-size sedan Ciaz rose 3.9 percent to 6,457 vehicles
Shares of Maruti Suzuki rose as much as 1.4 percent to Rs 7,810, after the announcement.
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