Maruti Suzuki, the country’s largest car maker, has reported a low single-digit growth of 0.8% in domestic sales in January. The company’s sales had growth of about 14% in the April-December period. Lesser number of working days in the month led to the decline, the company said.
The company sold 106,383 units in the domestic market last month.
“Whatever was produced in January has been dispatched”, said a company’s spokesperson. In December, the sales had grown by 13.5%. Reacting to the sales data, the company’s stock was trading Rs 3,978, down 2.92%, on the BSE at 12:39 pm.
The low January sales have pulled down the April-January growth to 12.4%. The growth by the company, with a 47% share in domestic passenger vehicle market, will pull down the January growth for the industry as well.
January exports also saw a sharp cut of 34.6% to 7,223 units. The April-January export sales stood at 104,111 units, up 0.9% compared to same period of the previous year.