Maruti Suzuki India - September 2012 Sales Update - Eastern Financiers

India's largest car maker, Maruti Suzuki India that was cuffed by almost a month long lock-out at its Manesar plant during August that resulted in sharp slip in sales to the tune of 40.76%-- recuperated in the following month marking growth of 9.84% which shall be attributed to the resumption of operations at its Manesar plant around mid of August. The Manesar plant that manufactures its largest-selling cars such as Swift and Dzire that slithered massively last month, reported sales growth of 24.26% for the super compact segment which sells Dzire, and the Swift, Ritz & Estilo that comprises the Compact division witnessed de-growth of 9.68% after prior months fall of 62.23%. The company retrieved sales growth almost across all its segments on restart of the Manesar plant. The company reported total sales of 93988 units in September 2012 against 85988 units in the same month last fiscal. On a monthly basis the company witnessed surge in sales of 73.56% with 54154 units being sold in August 2012.

Total Domestic sales of the company grew by 12.67% during September 2012 which sold 88801 units against 78816 units in September 2011.

Maruti Suzuki sold 11,694 units of the DZire, 24% higher than a year ago and 7,224 units of utility vehicles, up from just 412 units it sold in September 2011. The surge in utility vehicle sales has been fuelled by the Ertiga MUV, which continues to see strong demand.

Sales of Maruti's mini cars (Wagon R, Alto, A-Star and 800), which are predominantly petrol powered, edged up by 4.89% to 39150 units as compared to 37324 units in September 2011. Among its other segments, sales of mid-size SX4 sedan gained 46.94% to 288 units and van sales were up 7.52% to 12,620 in September 2012.

So far this financial year, Maruti Suzuki's total sales are down 1.41% to 5,26,272 units. While domestic sales have been flat, exports have slipped 12.66% between April-Sept. Among key segments, sales of DZire are up 61.18%, compact car sales gained 12.04% and utility vehicle sales have zoomed over 900%.

Source : Equity Bulls

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