India’s leading carmaker Maruti Suzuki India Ltd reported a 30% rise in sales in December 2024, sending its shares surging on January 1, 2025. The company sold 1.78 lakh vehicles in December, a growth of 29.6% compared to 1.37 lakh units in the same month last year, beating market expectations of 1.63 lakh units.
Domestic sales volume grew 27.3% to 1.41 lakh units from 1.10 lakh units last year, reflecting strong demand in the local market.
Passenger vehicle (PV) sales in India also rose 24.2% to 1.30 lakh units from 1.05 lakh units in December 2023. Exports were an exception for Maruti, with exports growing 39.2% to 37,419 units as against 26,884 units last year, reflecting increased global reach.
The company will increase car prices by up to 4% from January 2025 due to increased input and operating costs. Maruti assured its customers that it is working to optimize costs, but will have to incur some burden to maintain operations.
Maruti saw a one-step drop in profitability in the September quarter 2024. The company’s EBITDA margin fell to its lowest in the last three quarters at 11.9%, down 18% from its all-time high of ₹13,680.
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