 "Maruti Suzuki cuts price of select Alto K10 & S-Presso modes; details")
Maruti Suzuki India (MSI) has reduced the prices of select variants of its Alto K10 and S-Presso models, the company said in an exchange filing on Monday.
"Maruti Suzuki has reduced the prices of certain variants of the Alto K10 and S-Presso, effective from today, 2nd September 2024," the filing said.
Specifically, the price of the Maruti Suzuki S-Presso LXI petrol variant has been decreased by Rs 2,000, while the Maruti Suzuki Alto K10 VXI petrol variant has seen a price cut of Rs 6,500, the statement added.
In a separate filing on September 1, Maruti Suzuki had reported a nearly 3.9 per cent decline in sales for August 2024, with 181,782 units sold compared to 189,082 units in August 2023. Overall, Maruti Suzuki's August sales included 145,570 units sold domestically and 26,003 units exported.
Downturn in small car segment
The decline in the company’s sales in August was driven largely by a downturn in the small car segment, covering both mini and compact cars. Sales in this category fell by 18.85 per cent to 68,699 units in August 2024, down from 84,660 units in the same month the previous year, according to the company’s sales data.
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The company's mini-segment vehicles, which include the Alto and S-Presso, saw a decline in sales to 10,648 units in August 2024, down from 12,209 units in the same period last year. Conversely, the utility vehicle segment, featuring models such as the Grand Vitara, Brezza, Ertiga, Invicto, Fronx, and XL6, experienced a 7 per cent increase in sales, rising to 62,684 units from 58,746 units in August 2023.
Sales of the Eeco van remained steady at 10,985 units, while the Super Carry light commercial vehicle recorded a slight decrease, with 2,495 units sold compared to 2,564 units in the previous year. Domestic sales in August 2024 were also impacted, dropping by 8.4 per cent to 143,075 units compared to 156,114 units in August 2023, as per the company’s filing.
Maruti to maintain steady production
On a positive note, Maruti Suzuki's export figures showed growth, with a 5.64 per cent increase in exports to 26,003 units in August 2024, up from 24,614 units in the corresponding period last year.
The company intends to maintain steady production and inventory levels in preparation for the upcoming festive season, even as automobile dealers face challenges with high levels of unsold inventory in showrooms.