Maruti Suzuki’s Sales Jump 12% In November, Exports Continue To Struggle

Maruti Suzuki India Ltd. erased losses after the carmaker reported a 12.2 percent jump in sales in the month of November.

India’s largest car maker sold 1,35,550 vehicles compared to 1,20,824 vehicles in November 2015, the company said in a notification to the exchanges.

Maruti’s passenger car segment sales grew 8.1 percent to 96,767 units, driven by strong demand for compact and mini segment vehicles.

Sales of the compact segment, which includes cars like Swift, Dzire, Baleno and Celerio, grew 10.8 percent, while sales of the mini segment, which includes Alto and WagonR, rose 8.1 percent.

Sale of utility vehicles such as Gypsy, Vitara Brezza and Ertiga continued to outperform, surging 98.1 percent to 17,215 vehicles.

Export Woes

Domestic sales grew 14.2 percent to 1,26,325 units compared to 1,10,599 units last October.

Exports, on the other hand, took a hit for the second straight month, falling 9.8 percent to 9,225 vehicles. Exports had fallen 23.7 percent in October 2016.

Shares of the car maker, which was trading as much as 1.1 percent lower at Rs 5,204 before the announcement, rose to Rs 5,308 per share.