Maruti Suzuki’s Sales Dip In October As Exports Drop 24%
Maruti Suzuki India Ltd. stock fell after India's largest passenger car maker registered a 0.3 percent decline in sales for the month of October.
Maruti sold 1,33,793 units compared to 1,34,209 vehicles in October 2015, the company said in a press release.
The company's utility vehicles segment, which includes S-Cross, Vitara Brezza, Ertiga and Gypsy, was the bright spot with sales jumping 90.9 percent to 18,008 units compared to 9,435 units in the year ago period.
Exports Concerns
Exports was a laggard for the company, falling 23.7 percent to 10,029 units compared to 13,146 units in the same month last year. This is the first year-on-year drop in exports since June.
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Domestic sales grew 2.2 percent to 1,23,684 units compared to 1,21,063 units last October.
Other Highlights
- Sales of the mini vehicle segment (Alto and WagonR) fell 9.8 percent to 33,929 units.
- Compact vehicle segment sales fell 1.8 percent to 50,116 units.
- Mid-size vehicles (Ciaz) sales grew 8 percent to 6,360 units.
- Sale of Vans (Omni, Eeco) fell 6.5 percent to 12,790 units.
- Combined sales in the passenger cars segment fell 5.2 percent to 92,886 units.
Shares of Maruti Suzuki, which were trading 1.32 percent higher at Rs 5,974 as of 10:05 a.m, fell as much as 0.4 percent post the announcement.
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