 "Maruti Suzuki clocks 14% jump in July domestic sales")
Maruti Suzuki clocked its highest-ever monthly sales in July, reporting a growth of 13.9%. The July domestic sales stood at 125,778 units against 110,405 units in the same month last year.
A 14% sales jump by the market leader will lift the industry’s July performance after a low, single-digit growth of 2.7% in June. Maruti commands a 46% share in the domestic passenger vehicle (cars, utility vehicles and vans) market.
Reacting to the news, the company’s stock hit a new high at the BSE. At 10.40am, it was trading at Rs 4,838, up 1.75% from the previous close. The July performance comes after a double digit decline of 10% in June sales as it lost production due to disruption in supply of air conditioning components and a six-day maintenance shutdown.
Including exports, the company sold a total of 137,116 units in July 2016, growing 12.7% over the same period of last fiscal. This includes 125,778 units in the domestic market and 11,338 units of exports. The company had sold a total of 121,712 units in July 2015.