Declining output and dismal November statistics cause the share price of Maruti Suzuki to drop

 Declining output and dismal November statistics cause the share price of Maruti Suzuki to drop

Declining output and dismal November statistics cause the share price of Maruti Suzuki to drop

Sales of small vehicles, including as the Baleno, Celerio, Dezire, Ignis, Swift, Tour S, and WagonR, have decreased.

Sales of utility vehicles, which include the Brezza, Ertiga, Frontex, Grand Vitara, Invicto, Jimny, S-Cross, and XL6 models, increased by 50.52%.

Maruti Suzuki India Ltd.'s shares fell by about 1% to Rs 10,525 in early trading on December 4 after the announcement of the company's November sales statistics, which showed a 3.3% marginal increase.

The nation's top automaker said in an exchange filing on December 1 that sales of its 164,439 vehicles in November 2023 were higher than those of 159,044 units in the same month the previous year.

According to the corporation, in November 2023, it sold 141,489 pieces of goods domestically, including passenger cars, commercial vehicles, and third-party suppliers. When compared to the 139,306 items sold during the same time previous year, this indicates a gain of 1.57%.

According to the firm, total domestic passenger vehicle (PV) sales climbed by 1.3% to 134,158 units in November 2022 from 132,395 units in the same month the previous year. Sales of entry-level minicars, such as the Alto and S-Presso, fell to 9,959 units in the same month of the previous year from 18,251 units.

Compact cars like as the Baleno, Celerio, Dezire, Ignis, Swift, Tour S, and WagonR witnessed a fall in sales, much like small vehicles. The firm sold 64,679 units in November 2023 as opposed to 72,844 units in the same month the previous year.

Sales of utility vehicles, consisting include the Brezza, Ertiga, Frontex, Grand Vitara, Invicto, Jimny, S-Cross, and XL6 models, increased by 50.52 percent to 49,016 units over the same time period from 32,563 units. Up till last year.

In terms of output, the business reported that it produced 1,47,763 units overall in November, a 3% decrease from the previous month. In the same month the previous year, the business manufactured 1,52,786 units.