Maruti witnesses record August sales, leads in SUV sector from April to August

Maruti Suzuki India reported on Friday (September 1) that it achieved its all-time highest monthly wholesales in August, with 189,082 units sold, primarily driven by strong SUV sales. The nation's largest automaker emerged as the top contender in the domestic SUV market from April to August, propelled by successful models such as the Grand Vitara, Brezza, and Jimny.

The auto major's overall dispatches to dealers last month were 14 per cent higher as compared to 1,65,173 units in August.

The company previously reported its record monthly sales of 1,82,448 units in October 2020.

Total domestic passenger vehicle sales were at 1,56,114 units as against 1,34,166 units in the year-ago month, a growth of 16 per cent.

Utility vehicles, consisting of Brezza, Grand Vitara, Jimny, Ertiga and XL6, clocked sales of 58,746 units last month, over two-fold increase as compared to 26,932 units in August last year.

MSI Senior Executive Officer (Marketing & Sales) Shashank Srivastava said the company has become the leading player in the SUV segment in the April-August period this fiscal by overtaking Mahindra & Mahindra.

"In August we have become number one in the SUV segment on a cumulative basis that is from April-August," he noted.

The company's SUV sales in August stood at 41,658 units while Mahindra & Mahindra sales stood at 37,233 units in the segment, Srivastava noted.

"So our long-term cherished target of being number one player in the SUV space is on track (for this fiscal)," he added. The company had earlier stated that it wants to be the leading player in the SUV segment by the end of this fiscal with a market share of over 25 per cent.

On the company reporting its best-ever monthly sales, Srivastava said the company witnessed a continued good demand for its cars, especially the SUVs.

"The festive season which started with Onam in Kerala has led to a very positive retail growth of 25 per cent in Kerala. Also the introduction of new models in the fast growing SUV segment has helped the company in a big way.Our numbers have jumped up substantially in the segment," he stated.

Overall growth of the economy and increase in production activity with the easing of chip situation has also helped in enhanced sales, Srivastava said. MSI said sales of mini segment cars, comprising Alto and S-Presso, declined to 12,209 units last month from 22,162 units in August 2022, it added.

Dispatch of compact cars, including Baleno, Celerio, Dzire, Ignis and Swift rose to 72,451 units over 71,557 units in the year-ago period. MSI said its exports last month stood at 24,614 units as against 21,481 units in the same month last year. Shares of the automaker jumped more than 3 per cent in the mid-session trade on Friday after the automobile major reported its highest-ever monthly wholesales in August.

The stock of the company bounced 3.47 per cent to Rs 10,351.30 apiece on the NSE. The scrip witnessed a similar movement on the BSE, where it rose 3.44 per cent to Rs 10,350.90 per piece.

In the intra-day trade, the shares of the company touched its 52-week high of Rs 10,390 apiece on the BSE and Rs 10,397.95 each on the NSE.