Analysing the buyer trends, there is a rapid influx towards Maruti Suzuki’s utility segment, while other segments are taking a hit
India’s largest car manufacturer, Maruti Suzuki, ended the month of March 2024 on a positive note where YoY growth is concerned. However, there was MoM decline in sales across the charts, except for the mid-size vehicle Ciaz and LCV Super Carry. Where total sales are concerned, Maruti Suzuki pushed out 1,87,196 units, down from 1,97,471 units sold in February 2024.
Maruti Suzuki Sales March 2024
Breaking up the 1,87,196 units across their respective segments, we get 1,52,718 units of total domestic passenger sales, 3,612 units of CVs and 25,892 units shipped to global markets, among others. Breaking these numbers further, we get segment-wise sales analysis.
For starters, the company’s Mini segment comprising Alto and S-Presso accounted for 11,829 units, down from 11,582 units sold last year. In FY 23-24, company’s Mini segment accounted for 1,42,094 units which is a lot less than 2,32,911 units sold in FY 22-23. These numbers show diminishing buyer interests who are flocking for UVs.
The same pattern was observed with Compact segment too. This segment has Baleno, Celerio, Dzire, Ignis, Swift, Tour S and WagonR vehicles. This used to be Maruti’s hottest segment, but now it registers YoY and MoM decline. Sales stood at 69,844 units last month, down from 71,832. In FY 23-24 there were 8,28,015 Compact cars sold, down from 8,63,029 from a year ago.
Mid-size was the only segment in Maruti’s lineup to register a MoM growth and a YoY growth. Consisting of only the Ciaz sedan, this segment’s numbers stood at 590 units, up from 300. Most buyers are flocking to Maruti’s Utility segment where we have Brezza, Ertiga, Fronx, Grand Vitara, Invicto, Jimny, S-Cross and XL6.
Compact cars accounted for 58,436 and sales increased YoY when compared to 37,054 units from a year ago. In FY 23-24, Compact cars sold 6,42,296 units, up from 3,66,129 YoY. Being the only van on sale, Eeco sold in good numbers at 12,019 units, up from 11,995 units from March 2023.
Total sales
In total, company’s domestic passenger vehicle sales stood at 1,52,718 units. Despite being less than the numbers from February 2024, there was a YoY growth as opposed to 1,36,787 units. In FY 23-24, total domestic PV sales accounted for 17,59,881 units, up from 16,06,870 units from FY 22-23.
Where CVs are concerned, Maruti only has Super Carry which sold 3,612 units, down from 4,024 units. Maruti sold 4,974 units to other OEMs like Toyota and this segment saw a YoY growth over 3,165 units from last year. Total domestic sales (PV+LCV+OEM) was 1,61,304 units trouncing the 1,39,952 units from last year.
Maruti’s total exports in March 2024 stood at 25,892 units and saw a YoY decline when compared to 30,119 units shipped last year. Total sales (Domestic + Exports) stood at 1,87,196 units, showing a healthy growth over 1,70,071 units sold last year. In FY 23-24, Maruti’s total sales accounted for 21,35,323 units (highest-ever), which is greater than 19,66,164 units from FY 22-23.
