Maruti Suzuki Reports 11.8 Percent Overall YoY Sales Growth in February, 2021
Maruti Suzuki India Limited, in the month of February, posted total sales of 164,469 units, reflecting a growth of 11.8 percent over February 2020. Total sales in the month include domestic sales of 147,483 units, sales to other OEMs of 5,500 units and exports of 11,486 units. Low-interest rates along with pent-up demand and ongoing discounts accelerated the year-on-year sales of major automobile players' during February.
The company’s mini and compact segment that includes models including the S-Presso, WagonR, Alto, Swift, Ignis, Baleno, Celerio, D-Zire and Tour S reflected a combined year-on-year growth of 7.3 per cent. Meanwhile, in the executive sedan segment, the Ciaz reported a drop of 40.6 per cent from 2,544 units last year to 1,510 units this year. The total performance of the passenger vehicle segment was recorded at a positive 6.1 per cent going up from 99,871 units in 2020 to 105,986 units this year.
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The utility segment on the other hand with Gypsy, Ertiga, S-Cross, Vitara Brezza, XL6 showcased a growth of 18.9 per cent after 26,884 models of the vehicles were sold this year, as against the 22,604 that were sold in the same month last year. In the van segment, the total sales of Eeco amounted to 11,891 units this year, showing a growth of 5.9 per cent from 11,227 units last year. Combining the utility and the van segment, MSI reported a growth of 8.3 per cent.
In terms of Light Commercial Vehicles (LCV) including the Super Carry, Maruti Suzuki reported a whopping 507 per cent growth after it sold 2,722 units this year as against the 448 units it sold last year. Speaking of exports, the company managed to report a growth of 11.9 per cent from 10,261 to 11,486 units this year.
Analysts cited factors such as a preference for personal mobility over public transport due to the pandemic as the other key reasons for the upswing. Besides, higher government spending in the infra space was credited to have given a push to the commercial vehicle segment.
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