Maruti Suzuki India, the leading automobile manufacturer in the country, has once again showcased its dominance in the market with an impressive 10 percent rise in total sales for the fiscal year 2023–24. The company reported a significant milestone, crossing the annual total sales mark of 20 lakh units, marking a remarkable achievement in its illustrious journey.
In March 2024 alone, Maruti Suzuki India witnessed a surge in total sales, with figures reaching 1,87,196 units compared to 1,70,071 units, according to the company’s statistics, in the corresponding period of the previous year. This growth trajectory underscores the resilience and adaptability of the company in the face of evolving market dynamics and consumer preferences.
The domestic market emerged as a key driver of this growth, with the highest-ever yearly domestic sales recorded at 1,793,644 units. Notably, the company’s domestic dispatches to dealers, encompassing passenger vehicles, light commercial vehicles, and OEM sales, witnessed a substantial uptick of 15.26 percent compared to the previous year. Passenger vehicle sales within the domestic market surged by 15 percent, reflecting robust consumer demand and confidence in the Maruti Suzuki brand.
Delving deeper into the segment-wise performance, the mini-segment cars, including popular models like the Alto and S-Presso, maintained a steady trajectory with marginal growth. However, compact car sales experienced a slight dip, attributed to various factors influencing consumer preferences and market dynamics. On the flip side, the utility vehicle segment witnessed a remarkable surge in sales, underpinned by the popularity of models such as the Brezza, Ertiga, and S-Cross, among others.
Maruti Suzuki’s commitment to innovation and excellence is further substantiated by the impressive performance of its midsize sedan, the Ciaz, which saw a notable increase in sales compared to the previous year. This highlights the company’s ability to cater to diverse segments of the market with tailored offerings that resonate with consumers.
While domestic sales soared, the export figures for March 2024 witnessed a slight decline compared to the same period last year. However, the overall export performance for the fiscal year remained robust, with record exports of 2,83,067 units, marking a growth of 9.15 percent compared to the previous fiscal year.
Looking at the broader picture, Maruti Suzuki India’s total sales for FY 24 reached an all-time high of 21,35,323 units, showcasing an impressive growth trajectory of 8.6 percent. This growth is a testament to the company’s unwavering commitment to delivering value-driven products and services while maintaining a customer-centric approach.
In conclusion, Maruti Suzuki India’s stellar performance in FY 24 underscores its position as a market leader and reaffirms its commitment to driving innovation, sustainability, and growth in the automotive industry. As the company continues to navigate through evolving market dynamics, its focus on delivering excellence and meeting the evolving needs of consumers remains unwavering, ensuring a bright and promising future ahead. In Guwahati, Assam, Mittal Autozone stands as one of the most trusted authorised dealers of Maruti Suzuki, providing the best service and vehicle line-up for its customers. For any details or inquiries, contact Mittal Autozone.
Sources: www.thehindubusinessline.com/companies/maruti-suzuki-india-total-sales-rise-10-in-march
