Maruti Suzuki scales fresh record high on July Brezza, Ertiga sales numbers

Paterniano Del Favero
Agosto 1, 2017

The previous best was in April this year when the company had sold 1,44,492 units. Export sales however, grew 0.1% to 11,345 units in July, the company said in the monthly sales report.

Market leader Maruti Suzuki posted a 22.4% increase year-on-year in domestic sales to more than 1.54 lakh units, driven by strong demand for utility vehicles, including the Gypsy, Ertiga, S-Cross and Vitara Brezza. As a result, their stock is now at an all time high value of 7,920 on BSE, after opening the day at 7,729.05. During the uptrend, the stock managed to hit a new 52-week high of 7920 level today. The Ciaz premium sedan, which is now sold only from the premium Nexa channel, sold a total of 6,377 units, up 41 percent YoY (July 2016: 5,162). The firm said it saw a first few days of sluggish sales of the month due to the transition to the GST. At that time, the company had registered sales of 144,492 units. The stock closed 2.05 percent or 75 points higher at 3729.10 level on the BSE.

According to the company, its total sales during the month rose to 165,346 units from 137,116 units sold during the corresponding month of 2016. The stock is now trading above its 50 DMA.

Segment-wise, sales of passenger cars was higher by 19.4 per cent to 111,803 units against 93,634 units during July 2016.

Similarly, the mini segment (Alto, WagonR) grew by 20.7% to 42,310 units last month as compared with 35,051 units in corresponding month a year ago.

"The July numbers are pretty good", said Abdul Majeed, partner, PwC India.

India's largest vehicle maker Maruti Suzuki reported solid growth of 20.6 percent in July sales, which was far ahead of analysts' estimates.

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