Maruti Suzuki India's sales declined by 1.5 per cent in the second quarter of the 2018-19 Financial year. The company sold a total of 484,848 vehicles during the second quarter. Sales in the domestic market stood at 455,400 units and exports were at 29,448 units.
During the Quarter, the company registered Net Sales of Rs. 215,519 million, a growth of 0.5 per cent over the same period last year. The operating profit however was lower by 9.5 per cent at Rs. 27,101 million. The company says that this has been caused because of increase in commodity prices, adverse foreign exchange movement and higher sales promotion expenses partially offset by cost reduction efforts.
RC Bhargava, Chairman, Maruti Suzuki India said, "Conditions have changed for the worse in last months.The festive season sales are subdued compared to last year. If the big jump in sales does not happen then OEMs will be left with inventories"
Though the second quarter of the 2018-19 Financial Year has not been that good for the company, the first half of the financial year that is April - September 2018 has been a fruitful one. The company sold a total of 975,327 vehicles during the first half of the financial year which is a growth of 10 per cent over the same period last year. Sales in the domestic market stood at 919,240 units and exports were at 56,087 units.
There's good news even on the rural sales front for Maruti Suzuki as sales showed a strong growth, RS Kalsi, Senior Executive Director, Sales & Marketing, Maruti Suzuki India, said, "Last year 35 per cent of total sales were from the rural market. Rural markets have contributed 40 per cent to the overall sales this year". Sadly sales in the urban markets remained flat
