Maruti Suzuki Stock Gains 2% on Strong November Auto Sales
Maruti Suzuki India has reported a notable achievement in its sales performance, with a 10% year-on-year rise in total sales for November 2024.
As per the reports, the company sold a total of 1,81,531 units during the month, a notable rise from the 1,64,439 units sold in November of the previous year. This achievement highlights the company's continued growth and resilience in the competitive automotive market, reflecting strong consumer demand and effective business strategies.
The announcement was made on December 1, showcasing Maruti Suzuki's commitment to enhancing its market presence and delivering value to its customers.
Maruti Suzuki Share Price: Maruti Suzuki India’s share price rose by over 2% on Monday after the automaker reported a 10% year-on-year (YoY) increase in vehicle sales for November 2024.
The stock gained 2.17%, reaching ₹11,314 per share on the National Stock Exchange (NSE) during early trading, with a market capitalization of ₹3,55,895.85 crore.
On the Bombay Stock Exchange (BSE), the stock rose 2.21%, reaching ₹11,317.50.
Maruti Suzuki Sales Up 10% to 1.81 Lakh Units in November
Maruti Suzuki India reported a 10% year-on-year (YoY) increase in its total sales, reaching 1,81,531 units in November 2024, compared to 1,64,439 units in the same month last year, the company announced on December 1.
Total domestic passenger vehicle wholesales rose by 5% to 1,41,312 units, up from 1,34,158 units in November 2023.
Segment-wise Sales Breakdown:
Mini segment cars, including S-Presso and Alto, saw sales of 9,750 units, slightly down from 9,959 units in November 2023.
Compact cars (Dzire, Baleno, Celerio, Swift, Tour S, Ignis, and WagonR) sales declined by 5.1% to 61,373 units, compared to 64,679 units a year ago.
Sales of Utility vehicles (Brezza, Grand Vitara, Ertiga, and XL6) surged to 59,003 units, up from 49,016 units in November 2023.
Van Eeco sales increased to 10,589 units, compared to 10,226 units last year.
Light commercial vehicle Super Carry saw sales rise to 2,926 units, up from 2,509 units.
Despite the sales growth, the company posted a 17.4% decline in its standalone profit after tax (PAT) to ₹3,069.2 crore for Q2 FY24, down from ₹3,716.5 crore in the same quarter last year. Revenue from operations rose marginally by 0.37% to ₹37,202.8 crore, compared to ₹37,062.1 crore in Q2 FY23. However, EBITDA declined by 7.7% to ₹4,417 crore during the quarter.