Maruti Suzuki gains after total sales rise 8% YoY in July

Maruti Suzuki India rose 2.58% to Rs 8999 after the automobile major recorded total sales of 175,916 units in July 2022, recording a growth of 8.28% from 162,462 units sold in July 2021.

Total sales in the month include domestic sales of 145,666 units, sales to other OEM of 9,939 units and exports of 20,311 units.

On a sequential basis, the company's total sales have jumped by 12.87% from 155,857 units sold in June 2022.

Total domestic sales increased by 10.17% year on year to 155,605 units in July 2022. Total Exports declined 4.3% to 20,311 units in July 2022 over July 2021.

Maruti Suzuki said that the shortage of electronic components had a minor impact on the production of vehicles, mainly in domestic models. The company took all possible measures to minimise the impact, it added.

Maruti Suzuki India is engaged in the manufacture, purchase and sale of motor vehicles, components, and spare parts (automobiles).

The company's net profit jumped 129.8% to Rs 1,012.8 crore on 50.52% rise in net sales to Rs 25,286.3 crore in Q1 FY23 over Q1 FY22.

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