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HomeCURRENT AFFAIRSMaruti Suzuki expects passenger vehicle sales to cross the 10 Lakh mark...

Maruti Suzuki expects passenger vehicle sales to cross the 10 Lakh mark in India this festive season, Details

Maruti Suzuki: With strong demand, particularly for utility vehicles, domestic passenger vehicle sales are anticipated to surpass the 10 lakh mark during the holiday season this year. This year, the 68-day holiday period runs from August 17 to November 14. A few days in between are not seen as auspicious for buying.

Maruti Suzuki expects passenger vehicle sales to cross the 10 Lakh mark

Shashank Srivastava, senior executive officer for marketing and sales at Maruti Suzuki India, told PTI that the holiday season typically accounts for 22–26% of the year’s total sales. The festive season is projected to see sales of around 10 lakh units, he continued, with the total number of passenger car sales expected to be in the neighbourhood of 40 lakh in FY24. The CEO added that this year has seen high sales and that the pattern is anticipated to hold over the ensuing months.

“We have seen the best ever April, May, June, and July in terms of sales this fiscal. July witnessed the second-highest sales ever in a month at around 3.52 lakh units. August is also expected to be in the range of 3.5 lakh units,” Srivastava said.

Maruti’s Sales

Speaking on Maruti Suzuki India’s sales forecasts, he said that the company’s annual total sales are made up of around 22–25% of sales over the holiday season. “As we are particularly strong in smaller centres where people follow the festive period more keenly, our performance is usually slightly better than the rest of the players,” he added

According to Srivastava, Maruti Suzuki’s most recent model introductions will boost sales. In the country’s total passenger vehicle market, the automaker now holds a market share of 43%, according to the research.

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