The Indian auto market seems to be getting back on the growth trajectory as we step into a new decade. India's largest carmaker, Maruti Suzuki that accounts over 50 per cent of the market share has recorded a growth of 3.5 per cent in the last month of the year selling 125,735 units in the domestic market as compared to 121,479 units sold a year ago. That said, the prolonged slowdown still has aftereffects on the quarter sales. The company has witnessed an year-on-year sales decline of 16.9 per cent combining the first three quarter sales. It sold 11,00,698 units in the April - December period as compared to 13,24,837 units which were sold in the same period a year ago.
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The Maruti Suzuki Dzire is currently the bestselling model in India.
We have been observing for months now that Maruti customers are upgrading to more upmarket products in the compact segment instead of going for entry-level models in the entry segment. In December 2019 as well, the compact segment which sells products like the Swift, Dzire and Baleno among others is leading the growth chart with an uptick of 27.9 per cent at 65,673 units as compared to 51,346 units which were sold a year ago. In the same month volumes in the mini segment with modles like the Alto and S-Presso declined by 13.6 per cent as at 23,883 units as compared to 27,649 units sold a year ago. However, the worst hit was taken by the Ciaz mid-size sedan that witnessed a heavy slump of 62.3 per cent at 1786 units as against 4734 units sold a year ago.
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Maruti Suzuki has sold over 13,000 units of the XL6 MPV this year.
Sales were further balanced by the UV segment with products like the Vitara Brezza, Ertiga and XL6 among others. The UV segment registered a growth of 17.7 per cent selling 23,808 units as compared to 20,225 units in the same month last year. Surprisingly, sales of the Maruti Eeco also went down by 51.8 per cent, despite it being among the top 10 bestselling models of 2019. Maruti sold 7634 units in the Vans segment as against 15,850 units sold a year ago. Even the Super Carry (commercial vehicle) witnessed a de-growth of 5 per cent at 1591 units as compared to 1675 units sold a year ago. Moreover, Maruti has supplied 1360 units of the Baleno (dubbed Glanza) to Toyota in December.
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Maruti Suzuki sells over 10,000 units of the Baleno on a monthly average.
Maruti's exports also witnessed an uptick of 10.2 per cent at 7561 units as compared to 6859 units exported in the same month last year. Maruti's overall sales (domestic + exports) stood at 133,296 units which is a growth of 3.9 per cent when compared to 128,338 units a year ago. The improvement in sales is majorly attributed to the pre-buying that was expected to happen in the last month of the year ahead of the routine price revision that is done annually. Moreover, over half of Maruti's model line-up is BS6 compliant now, hence it doesn't really need to de-stock its inventory ahead of the April 2020 deadline. Pre-buying is also likely to happen in the last quarter of FY2020 as the prices are expected to go up after April 2020 deadline.
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