Maruti Suzuki share price dips on tepid November numbers, drop in production

Shares of Maruti Suzuki India Limited saw a nearly 1 percent decline, reaching Rs 10,525 in early trade on December 4 following the release of the company’s November sales data, which indicated a marginal increase of 3.3 percent.

During the month, the country’s leading automobile manufacturer sold 164,439 units in November 2023 as compared to 159,044 units in the same month last year, the company said in an exchange filing on December 1.

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The company reported that its total domestic sales, encompassing passenger vehicles, commercial vehicles, and third-party supplies, reached 141,489 units in November 2023. This represents a 1.57 percent increase compared to the 139,306 units sold during the same period last year.

Overall domestic passenger vehicle (PV) sales increased to 134,158 units as compared to 132,395 units in November 2022, marking an increase of 1.3 percent, the company said. Sales of entry-level mini cars, comprising the Alto and S-Presso, were lower at 9,959 units as compared to 18,251 units in the same month last year.

Much like the small vehicles, compact cars such as Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR, witnessed a decrease. In November 2023, the company reported sales of 64,679 units, as opposed to 72,844 units in the same month of the previous year.

The utility vehicle sales, which include models such as Brezza, Ertiga, Fronx, Grand Vitara, Invicto, Jimny, S-Cross, and XL6, experienced an increase of 50.52 percent, higher at 49,016 units compared to 32,563 units in the same period the previous year.

As for production, the company said its total production declined by 3 percent to 1,47,763 units in November. The company had produced 1,52,786 units during the same month last year.

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