Maruti Suzuki registers lower sales in June compared to May and April
Maruti Suzuki registered a decline in sales during June as compared to the previous two months with total sales of 159,418 units. In April 2023, Maruti sold 160,529 units and 178,083 units during May 2023. The sales during June 2023 were lower compared to the last two months but it also marks 2 percent rise compared to June 2022. The sales for compact Maruti vehicles including Swift, Celerio, Ignis, Baleno and Dzire were down by 17 percent compared to June 2022. Maruti is planning to launch new vehicles in the coming quarters and this should lead to better sales.
Maruti Suzuki registered strong performance in utility vehicles segment. The sales for Brezza, Ertiga and Grand Vitara more than doubled compared to the same period last year. For this segment, Maruti sold 43,404 units during June 2023, compared to 18,860 units. Surely, the SUV and MUV segment has been growing strong in India. Not just Maruti Suzuki, but other automobile majors are also witnessing strong demand for utility vehicles segment.
Maruti Ciaz sold 1,744 units during June 2023 compared to 1,507 units during the same month last year. Maruti Suzuki registered decline in export sales during June 2023 with 19,770 units as against 23,833 units for the same period last year.
Maruti Suzuki, Hyundai and Tata Motors lead the Indian passenger vehicles segment. Mahindra & Mahindra has strong presence in utility vehicle segment. Toyota Kirloskar has registered strong performance during June 2023.
Maruti Suzuki stock touched 52-week high on Friday as Indian markets touched all-time highs for major indices. The automobile sector has been a strong performer during the current market rally. Maruti Suzuki has received positive ratings from market analysts and brokerages. The automobile major continues to lead the Indian markets in terms of sales.
Maruti Suzuki has not made a transition to electric vehicles segment yet. The company recently announced that EVX will be launched by 2025. The car was showcased at Auto Expo 2023.