Maruti Achieves 3.39% YoY Growth in Nov '23, Faces Decline Compared to Oct '23

Maruti Suzuki India has reported a positive growth in total sales for the month of November 2023. The company recorded a total of 1,64,439 units sold, reflecting a 3.39% increase compared to the same month in the previous year.

Domestic Sales:

The domestic sales of Maruti Suzuki, which includes passenger vehicles, commercial vehicles, and third-party supplies, witnessed a growth of 1.57%, reaching 1,41,489 units in November 2023 compared to 1,39,306 units in November 2022.

Maruti Year on Year sales report

| Rank | Model | Nov’23 | Nov’22 | YoY | Difference ||------|---------------|--------|--------|---------|------------|| 1. | Wagon R | 16,567 | 14,720 | 11.8% | 1847 || 2. | Dzire | 15,965 | 14,456 | 9.92% | 1509 || 3. | Swift | 15,311 | 15,153 | 1.037% | 158 || 4. | Vitara Brezza | 13,393 | 11,324 | 16.74% | 2069 || 5. | Baleno | 12,961 | 20,945 | -47.09% | -7984 || 6. | Ertiga | 12,857 | 13,818 | -7.20% | -961 || 7. | Eeco | 10,226 | 7,183 | 34.95% | 3043 || 8. | Fronx | 9,867 | 0 | | || 9. | Alto | 8,076 | 15,663 | -63.92% | -7587 || 10. | Grand Vitara | 7,937 | 4,433 | 56.65% | 3504 |

Category-wise Performance:

In the passenger vehicle segment, Maruti Suzuki reported an overall domestic sales figure of 1,34,158 units in November 2023, marking a modest growth of 1.33% compared to the same month in 2022. Notably, the entry-level mini cars, including the Alto and S-Presso, faced a decline in sales, dropping from 18,251 units to 9,959 units. Similarly, sales of compact cars such as Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR decreased from 72,844 units to 64,679 units during the same period. However, the utility vehicle category witnessed a substantial surge, with sales escalating from 32,563 units to 49,016 units. This remarkable growth can be attributed to popular models like Brezza, Ertiga, Fronx, Grand Vitara, Invicto, Jimny, S-Cross, and XL6, showcasing the diverse preferences among consumers.

Moving on to the sedans and vans category, the mid-sized sedan Ciaz experienced a decline in sales, plummeting from 1,554 units to 278 units in November 2023. In contrast, the van Eeco showcased positive momentum, registering an increase in sales from 7,183 units to 10,226 units during the same period. This dynamic performance across different vehicle categories reflects the nuanced market trends and consumer preferences, emphasizing the need for adaptive strategies in Maruti Suzuki's product lineup and marketing approaches.

Model-wise Performance:

In the realm of top-performing models, Wagon R took the lead by showcasing robust sales, with a total of 16,567 units sold in November 2023. This marked an impressive 11.8% growth compared to the figures from the same month in the previous year. Additionally, both Dzire and Swift contributed positively to the company's success, with growth rates of 9.92% and 1.037%, translating to 15,965 units and 15,311 units, respectively.

However, amidst these successes, certain models faced challenges in the market. Baleno experienced a notable decline, with sales dropping sharply by -47.09%, from 20,945 units to 12,961 units. Similarly, Alto, a traditionally popular model, encountered a substantial decrease of -63.92%, with sales decreasing from 15,663 units to 8,076 units during the same period.

Noteworthy performances also emerged in specific models. Grand Vitara exhibited remarkable growth, showcasing a surge of 56.65%, as sales escalated from 4,433 units to 7,937 units. This growth is indicative of the confidence buyers place in one of Maruti Suzuki's premium offerings. Furthermore, Eeco demonstrated significant growth, registering a commendable increase of 34.95%, with sales rising from 7,183 units to 10,226 units. These nuanced performances underscore the diverse market dynamics and consumer preferences, emphasizing the importance of a well-rounded product portfolio for Maruti Suzuki.

Maruti Suzuki Face a decline in Nov Sales compared to Oct 23

Maruti Suzuki India's sales performance for November 2023 reflects dynamic market shifts when compared to October 2023. The following table highlights the unit sales for key models along with the percentage change and the absolute difference in sales between the two months.

Maruti Month on Month sales report

| Rank | Model | Nov’23 | Oct’23 | MoM | Difference ||------|---------------|--------|--------|----------|------------|| 1. | Wagon R | 16,567 | 22080 | -28.53% | - 5513 || 2. | Dzire | 15,965 | 14699 | 8.26% | 1266 || 3. | Swift | 15,311 | 20598 | -29.45% | -5287 || 4. | Vitara Brezza | 13,393 | 16050 | -18.05% | -2657 || 5. | Baleno | 12,961 | 16594 | -24.58% | -3633 || 6. | Ertiga | 12,857 | 14209 | -9.99% | -1352 || 7. | Eeco | 10,226 | 12975 | -23.697% | -2749 || 8. | Fronx | 9,867 | 11357 | -14.04% | -1490 || 9. | Alto | 8,076 | 11200 | -32.41% | -3124 || 10. | Grand Vitara | 7,937 | 10834 | -30.866% | -2897 |

In the month-on-month sales report for Maruti Suzuki in November 2023, several key observations shed light on the dynamic nature of the automotive market. Notably, the Dzire model exhibited positive momentum, experiencing a significant 8.26% increase in sales compared to October 2023. This rise reflects a heightened consumer interest in the Dzire model during this period. Similarly, the Ertiga demonstrated resilience with a modest decline of -9.99%, suggesting sustained demand for this particular model.

However, the sales landscape presented its set of challenges, particularly for models such as Wagon R, Swift, and Alto. These models faced substantial declines of -28.53%, -29.45%, and -32.41%.

The reason behind the month on month decline in maruti suzuki sales could be the recently concluded festive season that saw a remarkable sales figures for india’s largest car maker.

The impact of market dynamics manifested in varied ways across different models. While some, like Vitara Brezza and Fronx did see some moderate decreases in sales, others, namely Baleno and Grand Vitara, experienced more of the significant declines. This underscores the nuanced shifts in consumer preferences and emphasizes the need for strategic adjustments in both the product lineup and marketing strategies.

Conclusion

Maruti Suzuki's November 2023 performance showcases a positive trajectory, emphasizing success in specific vehicle categories. The company's adaptability to market dynamics and alignment with consumer preferences are critical factors for sustained growth. As the automotive landscape evolves, Maruti Suzuki's ability to capitalize on emerging trends will be pivotal for maintaining and enhancing its market position.

The month-on-month sales report provides insights into Maruti Suzuki's performance, highlighting both opportunities and challenges. Models like Dzire exhibit positive momentum, signalling growth potential. Conversely, challenges faced by models like Wagon R, Swift, and Alto underscore the need for targeted initiatives.