Maruti Suzuki sales fall 24% to 1.22 lakh units in September, below analyst estimates

Maruti Suzuki India, the country’s largest car maker, continued to disappoint street with its monthly sales numbers as September data failed to meet analyst expectations amid sustained slowdown pressure and demand worries though walk-ins and footfalls improved towards end of last month on festive season.

The company sold 1.22 lakh units in September, falling 24.4 percent, compared to 1.62 lakh units sold in same month in 2018, but the same increased by 15.2 percent compared to previous month due to low base.

Sales numbers were lower than Nomura expectations of 1.26 lakh units for September.

Domestic sales during the month fell 24.8 percent to 1.15 lakh units, and exports also declined 17.8 percent to 7,188 units. But, domestic sales increased 19 percent compared to August.

Passenger car sales were down by 31.5 percent to 78,979 units while passenger vehicle sales declined 27.1 percent, but light commercial vehicle sales increased 0.4 percent YoY.

Mini car segment sales (Alto, S-Presso) and compact car sales (new WagonR, Celerio, Ignis, Swift, Baleno and Dzire) were down 42.6 percent and 22.7 percent YoY in September while utility vehicle sales (Ertiga, XL6, Vitara Brezza) slipped 0.5 percent YoY.

The stock was quoting at Rs 6,831.10, up Rs 113.80, or 1.69 percent on the BSE at 1054 hours IST after improvement in sales on month-on-month basis.

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