Car demand drives Maruti Suzuki nos

Maruti Suzuki auto sales, September 2020

Maruti Suzuki India reported a whopping 31% jump in its September auto sales for 2020 versus the same month of 2019.

The company sold 1.60 lakh vehicles during the month, up from 1.23 lakh units last year. On average, the company used to sell around 1.3 lakh vehicles per month before the COVID-19 lock-down was imposed.

However, Maruti Suzuki said the sudden increase in growth rate should be seen in the context of the relatively low base of 1.23 lakh vehicles recorded last year.

The company is also expected to have benefited from the ‘pent up demand’ as well as the need for personal transportation, given the heightened risks associated with public transportation during a viral pandemic.

“The performance has to be seen in the context of lower base of September 2019,” it said.

Out of the 1.6 lakh total sales, 1.5 lakh was in the domestic market.

Exports too reported a modest growth of 9% during September compared to last year.

Growth was particularly strong in the small and compact car segments, with the mini segment reporting a 36% jump — one of its best in recent years — and the compact segment — which includes most of the company’s cars — reporting a 47% jump.

The utility vehicle division, which tends to be a better reflection of consumer confidence and the return of purchasing power, saw a 10% increase in numbers.

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