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Car Sales Report For March 2020: Maruti Suzuki Registers A 47% Decline In Sales
Maruti Suzuki has released their sales report for the month of March 2020. As seen from the report, Maruti Suzuki sales in the previous month have registered a massive drop of 47% compared to March 2019.
The company registered a total sales of 83,792 units in March 2020. This is a combination of both domestic and export sales by the company last month. This is a 47% drop compared to March 2019, when Maruti Suzuki recorded significantly better sales figures of 1,58,076 units.
Talking specifically about domestic sales, the company registered 79,080 units in March 2020; a similar 46.4% drop compared to 1,47,613 units of sales last year. The remaining sales came in from exports, which registered a higher 55% drop in sales. Maruti Suzuki's export sales in March 2020 stood at 4,712 compared to 10,463 units during the same period last year.
With March also marking the end of the financial year 2019-20, Maruti Suzuki announced that the company ended the year with a total sales of 15,63,297 units.
The reason for the drastic fall in sales of Maruti Suzuki is the ongoing coronavirus pandemic. Maruti Suzuki announced a complete shutdown of its operations on the 22nd March, as part of the nationwide lockdown ordered by the Prime Minister of India.
Maruti Suzuki is currently working with the state and central government to scale up production of ventilators and other medical equipment required to fight the deadly virus. The company announced recently that it has partnered with AgVa Healthcare to rapidly scale up production of ventilators for the central government.
The company plans to make use of AgVa Healthcare's expertise in Ventilators while Maruti Suzuki themselves handle the production of the medical equipment. The company has stated that they aim to achieve a monthly production capacity of 10,000 ventilator units — here are the details.
Thoughts On The Maruti Suzuki Car Sales Report For March 2020
Maruti Suzuki is the country's leading car manufacturer and offers multiple products covering almost every segment in the Indian car market. However, the coronavirus pandemic affecting the entire world brought down sales to a minimum. We expect low sales to continue in the Indian market for at least the next two months.
