Maruti Suzuki down after weak May sales

Shares of Maruti Suzuki were down 3% in early trades after the company on Saturday announced that total sales in May 2013 were down 14% compared to the same month last year.

The country's largest car-maker reported 14.4% decline in total sales in May this year at 84,677 units compared with sales of 98,884 units in May 2012.

For May 2013, the city-based firm reported 13% decline in domestic sales at 77,821 units, over 89,478 units in May 2012, Maruti Suzuki said in a release.

Exports during May declined by 27.1% to 6,856 units from 9,406 units in the year-ago period, the company said.

Total passenger car sales declined by 8.3% to 66,342 units in May 2013 from 72,309 units in May 2012, it added.

Nearly 100,000 shares were traded on the stock exchanges so far.