Maruti Suzuki’s domestic sales jump 8.6% in August1 min read . Updated: 01 Sep 2015, 02:17 PM IST
The sales were led by company's entry-level models including Wagon R and Alto
Mumbai: Maruti Suzuki India Ltd’s domestic sales rose 8.6% to 106,781 units in August, the company said in a statement on Tuesday.
However, a contraction in sales of the company’s compact car models and a lower growth in overall volumes in August compared with previous months shows some weakness in the market, indicating that a broad-based, sustainable recovery across all segments of the market may still be some distance away.
The sales were led by company’s entry-level models including Wagon R and Alto. Sales of these models increased to 37,665 units against 34,686 units a year ago. After a steady growth for several months, sales of the company’s compact car models, which include the Swift hatchback, Dzire sedan and Celerio small car, dropped 11.3% to 41,461 units over the year-ago period.
Meanwhile, exports at the local arm of the Japanese car maker also dropped 11% to 11,083 units over a year ago. A company spokesperson attributed the decline in exports to floods in Gujarat.
Domestic car sales in India have been rising month-on-month for the last nine months on back of improved consumer sentiment. India’s economy expanded 7% in the June quarter, slower than the 7.5% growth it posted in the previous quarter.
At 10:55am, Maruti shares were down 0.72% to ₹ 4,137.50 on BSE. The Sensex was down 0.8%.