Demonetisation: no major effect on Maruti Suzuki sales

India’s largest car maker in terms of both revenue and volumes has posted healthy sales number for the month of November despite currency demonetisation move by the government playing the spoil sport.

Total sales for the month of November is up by 12.2 per cent at 1.35 lakh as against 1.2 lakh on a yearly basis. The increase was primarily driven by new launches in both the compact segment and sedan segment.

Domestic sales of the car maker stand at 1.26 lakh as compared to 1.1 lakh, representing a double-digit growth of 14.2 per cent year-on-year.

Whereas, exports for the month of November have come in at 9225 vis-à-vis 10,225, indicating a decline of 9.8 per cent. Exports were down as key geographies didn’t perform as per the company’s expectation.

Compact segment of Maruti Suzuki which comprises of the likes of Swift, Ritz, Dzire, etc., has seen a strong double-digit growth of 10.8 per cent. Mini segment also has seen stable sales for the month as it increased by 8.1 per cent. Utility vehicles comprising S-cross, Brezza, etc., sales have almost doubled on a yearly basis.

Reacting to good set of sales figures, shares of Maruti Suzuki are trading with gains of close to half a percentage point at Rs 5291 on NSE.