Maruti Suzuki’s total sales in June fell by about 8.8% YoY (year-on-year) basis to 80,298 units, this was due to a sharp decline in sales of passenger car models such as SX4, Swift D’zire, Maruti 800 and multi utility vehicles Gypsy and Grand Vitara. The company’s sales were partly hit by the workers strike at the Manesar factory during the last month. While there was no production for 10.5 days at Manesar due to the strike, Gurgaon plant was shut for 6 days due to a planned maintenance shutdown, so the production was largely affected with this. However domestic sales at India’s top passenger car maker fell 3.8% from a year ago to 70,020 units in June, while exports were down 32.7% to 10,278 units. So we are seeing some kind of interest rates pressure and the pressure from fuel price hike in that period. So overall there is bad news for this complete sector going forward.
About Bhaveek PatelBhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.
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