Maruti Suzuki India, one of India’s top passenger vehicle manufacturers, anticipates retail sales growth of 3-4% for the year, aligning with industry expectations.

Partho Banerjee, Senior Executive Director of Marketing and Sales at Maruti Suzuki India, noted that the retail sales growth for the industry from April to November has been approximately 4%.

He highlighted that the Society of Indian Automobile Manufacturers (SIAM) had forecasted a 3-4% growth rate at the start of the year, considering the high base. According to him, the industry is tracking these projections closely, and the year is likely to close with growth within this range.

Commenting on the impact of discounts, Banerjee, mentioned that December typically sees consumers holding off on purchases until later in the month. However, he noted that the initial response from the market has been encouraging, and the company expects December to deliver strong retail sales.

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Banerjee reports that the SUV segment share has increased from 50% to 54.6% industry-wide, with Maruti’s share rising from 24% to 27.6%.

He emphasises that while the SUV segment is growing, other segments like hatchbacks, premium hatches, and MPVs like Ertiga are also performing well.

He highlights that the Baleno was the top-selling model in November, with the Swift retailing over 22,000 vehicles.

The company announced 4th generation All New Dzire with petrol and S-CNG models in November. Banerjee shares that the Dzire has received a strong response, with close to 25,000 pending bookings and a significant increase in daily bookings to around 1,000 from 500.

Maruti’s November sales aligned closely with expectations, showing a 10.4% year-on-year increase. The SUV segment grew by 20%, while the compact segment saw a 5% decline compared to the previous year.

Banerjee shared that November was a strong month for the company, with robust booking activity and continued momentum from the festive season. He highlighted notable growth in the rural market, where penetration has risen to 48%, with sales increasing by 2.7%.

The company recorded a 5% growth in dispatches for the month. Combining October and November retail performance, adjusted for the shift in Diwali timing compared to last year, Maruti’s VAHAN market share showed a significant growth of 10.8%.

The company, which has a market capitalisation of ₹3,52,288 crore, has seen its shares rise 5% over the last year.

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