Despite a demonetisation overhang, Maruti Suzuki Ltd. managed to clock its “highest ever total sales” for a fiscal year. The country's largest car maker sold 1,568,603 units for the fiscal year 2016-17, around 9.8 percent higher than the prior year, according to its statement on the exchange.
The automaker registered a 8.1 percent year-on-year growth in vehicle sales for the month of March. It sold 1,39,763 units, with 91.6 percent of it being sold in the country itself.
Sale of utility vehicles rose 31.8 percent compared to around 110 percent increase in February. The segment consists of some of Maruti's most popular vehicles like Vitara Brezza, Gypsy, Ertiga and S-Cross. The segment is a highly competitive one in the Indian market with other alternatives such as Toyota's Innova, Hyundai's Creta, Ford's EcoSport and Mahindra's Bolero.
Sale of compact vehicles grew by a strong 29.7 percent compared to 9.4 percent in February. The company sold 60,699 units from the segment made up by Swift, Ritz, Baleno, Celerio, Ignis and Dzire.
Sale of Wagon-R and Alto, which makes up Maruti's mini segment, dropped 15.6 percent compared to the sale in the corresponding month last year.
While domestic sales rose 7.7 percent, exports jumped 12.6 percent to 11,764 units during the month.
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