Maruti Suzuki Records Highest Ever Monthly Sales in October 2023

Maruti Suzuki India Limited sold a total of 199,217 units in October 2023, registering its highest ever monthly sales, as per a company statement released today. The auto major had sold 167,520 units in October last year.

Maruti’s domestic passenger vehicle sales stood at 168,047 units in October 2023, also an all-time high and up 19.7% from 140,337 units sold in October 2022. This was led by strong demand for its popular models like the Swift, Baleno and Brezza.

The company’s sales of utility vehicles like the Brezza, Grand Vitara and XL6 grew 91% to 59,147 units in October 2023. This segment has been driving growth for Maruti amid a shift in consumer preference to UVs.

Maruti Suzuki’s total domestic sales, including passenger vehicles and light commercial vehicles, came in at 171,941 units in October 2023, showing a growth of 20% over last year.

In the April-October period of FY23, the carmaker has sold a total of 1,094,809 units domestically, up 9.5% compared to the same period last fiscal.

Exports also rebounded sharply by 7.3% to 21,951 units in October 2023 after facing headwinds earlier this year from the global slowdown.

The strong sales performance comes as a relief for Maruti Suzuki after two consecutive years of falling sales due to the pandemic and supply chain disruptions. The company saw its market share drop below 50% in FY22 for the first time in over a decade due to production constraints.

However, with supply issues easing and chip availability improving, Maruti seems to be getting its mojo back. Along with festive cheer, new model launches like Grand Vitara and Fronx have also boosted demand.

With signs of a growth revival in the auto sector, Maruti Suzuki seems to be firing on all cylinders in FY23. The company is expected to post strong sales growth this fiscal year after two muted years affected by external challenges.