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India's largest car manufacturer Maruti Suzuki reported 16.7 per cent drop in domestic sales during June 2019. Their total sales stood at 1,13,031 units, weighed down by a lean period that is being witnessed across the industry.
According to Economic Times Auto, this is the third consecutive month during the current financial year wherein the company's domestic wholesales have witnessed a double-digit decline. Maruti Suzuki India Limited sold 135,662 units in the domestic market in June 2018, as per a regulatory filing.
Sales of the mini segment, which includes the Alto and the WagonR, fell 36.2 per cent, and sales figures stood at 18,733 units. The compact segment that features the new Wagon R, the Celerio, the Ignis, the Swift, the Baleno, and the Dzire saw a 12.1 per cent drop, reporting sales of 62,897 units. Utility vehicle sales fell by 7.9 per cent and closed at 17,797 units.
While personal or private use vehicles saw negative performances, the company's light commercial vehicle segment witnessed a positive growth in sales during June 2019. Maruti Suzuki sold 2,017 units of the Super Carry last month, up 24 per cent from June last year.
During the first quarter of the financial year 2019-20, MSIL's total domestic sales of the passenger vehicles dropped by 20.8 per cent and the company registered figures at 363,417 units as compared to 458,967 units during the first quarter of the last financial year.
Maruti Suzuki's total domestic sales (Passenger Vehicles and Light Commercial Vehicles) witnessed a drop of 20.2 per cent, while total global sales (Domestic and International) witnessed a drop of 17.9 per cant. Domestic and global sales figures stood at 3,69,985 units and 4,02,594 units respectively.
The company's passenger vehicle sales in the domestic market dropped by 17.2 per cent with sales figures standing at 1,11,014 units during June 2019, as compared to the 1,34,036 units that were retailed in June 2018.
Maruti Suzuki's total global sales, (Domestic and International) witness a drop of 14 per cent and the company registered sales figures of 1,24,708 units as compared to 1,44,981 units during the June of last year.
Thoughts About The Drop In Sales Figures For MSIL During June 2019
Wow! That is a steep drop in sales figures. The industry was expecting things to get better after the elections in the country, but no such thing has happened. We assume that sales and profitability will be hit some more because companies will have to dump excess BS-IV stock, and this may trigger a price war. We think sales will get better starting with the Diwali festivities.