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Pressure has started showing on passenger vehicle numbers. Maruti Suzuki, the country’s largest player, reported a marginal growth of 1.6% in domestic sales in June.
Volume has been affected by a sharp decline of 28% in entry level cars (Alto and WagonR).
This is the lowest and the first single digit growth seen by the company in the first three months of the current financial year. The company had reported domestic sales growth of 27% in April and 13% in May.
While volumes in the entry level segment took a hit, the company posted growth in all other segments such as like compact, super compact and utility vehicles.
The first quarter (April-June) volume growth is still in the double digit at 13%, helped by sharp growth in the previous two months. Last year, Maruti’s domestic sales grew 11%.
The company spokesperson was immediately not available for a comment on the June sales data. Maruti's stock price was up 1% to Rs 4,064 at the Bombay Stock Exchange at 12.15 pm.
