Maruti Suzuki Reports 3.9% Decline in August 2024 Vehicle Sales
New Delhi [India], September 1: Maruti Suzuki has reported a 3.9% decline in its total vehicle sales for August 2024. The company sold 181,782 units last month, down from 189,082 units in August 2023.
Domestic and Export Sales
The August 2024 sales figures include 145,570 units sold domestically and 26,003 units exported. This decline is attributed to a reduction in both the mini and compact segments, where sales dropped to 68,699 units from 84,660 units a year ago.
Passenger Cars
The sale of passenger cars, which includes mini, compact, and midsize categories, fell to 69,406 units in August 2024 from 85,509 units in August 2023. Domestic passenger vehicle sales also experienced a downturn, with 143,075 units sold in August 2024, down from 156,114 units in the same month last year.
Export Performance
On a positive note, Maruti Suzuki’s export performance showed growth. The company exported 26,003 units in August 2024, an increase from 24,614 units in August 2023.
Overall, while Maruti Suzuki faced a decline in total sales and domestic vehicle numbers, its export sector demonstrated positive momentum. The mixed performance highlights both challenges and opportunities for the company as it navigates the evolving automotive market landscape.
Doubts Revealed
Maruti Suzuki -: Maruti Suzuki is a popular car company in India. They make and sell cars like the Swift and Alto.
3.9% decline -: A 3.9% decline means that the number of cars sold went down by 3.9% compared to last year.
August 2024 -: August 2024 is a month in the future. The report is talking about car sales in that month.
vehicle sales -: Vehicle sales mean the number of cars that were sold.
units -: Units here mean the number of cars sold. For example, 181,782 units mean 181,782 cars.
domestic sales -: Domestic sales mean the cars sold within India.
exports -: Exports mean the cars sold to other countries outside India.
mini and compact segments -: Mini and compact segments are types of small cars. These are usually cheaper and smaller than other cars.
export performance -: Export performance means how well the company did in selling cars to other countries.
automotive market -: The automotive market is the business of making and selling cars.
