Maruti Suzuki India Ltd, the largest automaker in India, reported a 6.5 per cent increase in total vehicle sales for April 2023, with 160,529 units sold compared to 150,661 units in April 2022. The company attributed the slight impact on production due to the shortage of electronic components but said it had taken measures to minimize the impact.
Domestic sales saw a rise from 132,248 units last year to 143,558 units this year, with passenger vehicles (PVs) sales rising from 121,995 to 137,320 units. The mini and compact segment sales also saw a jump, with 89,045 units sold compared to 76,321 units in April 2022.
However, the company’s exports fell by 7.9 per cent, with 16,971 units sold compared to 18,413 units in April 2022. Last week, Maruti Suzuki India Ltd reported a 42.6 per cent rise in profit after tax (PAT) for the quarter ending March 31, 2023, with a total of Rs 2,623.6 crore compared to Rs 1,838.9 crore in the same period in 2022.
For the fiscal year 2022-23 (FY23), the company’s PAT increased by 113.7 per cent from Rs 3,766.3 crore to Rs 8,049.2 crore. The automaker recorded net sales of Rs 30,821.8 crore for the quarter, up from Rs 25,514 crore in the same quarter last year.
Maruti Suzuki India Ltd sold a total of 514,927 vehicles in the quarter, up by 5.3 per cent compared to the same period last year. Domestic sales stood at 450,208 units, representing a 7.1 per cent increase from Q4FY22, while sales in the export market declined slightly from 68,454 units in Q4FY22 to 64,719 units.
