A month after it recorded best-ever fiscal year sales of 1.75 million units and 10% growth in FY2024, Maruti Suzuki India, the bellwether of the Indian passenger vehicle industry, has reported flat sales in the first month of FY2025. April 2024 wholesales of 137,952 units for the company indicate zero percentage growth (April 2023: 137,320 units).
In fact, it can be said that sustained demand for most of its SUVs and MPVs have saved the blushes for the company. Utility vehicle sales of 56,553 units constituted strong 54% year-on-year growth and accounted for 41% of the company’s overall passenger vehicle sales. This is possibly the highest in a single month (see UV share of PV sales data table for FY2024 below).
From a 23% share of PV sales in FY2023 (366,129 UVs in 1.60 million PVs), the UV penetration in Maruti Suzuki’as PV sales jumped to 36.49% in FY2024. And to 41% in April 2024 (56,553 UVs of 137,952 PVs).
At 56,553 units last month, cumulative sales of the seven-model utility vehicle portfolio comprising the Brezza, Ertiga, Fronx, Grand Vitara, Invicto, Jimny and XL6, recorded strong 54% year-on-year growth. In the process, as they did in FY2024, they have helped buffer the sustained decline in consumer demand for entry-level hatchbacks as well as sedans.
Combined sales of the Alto and S-Presso at 11,519 units are down 18% YoY (April 2023: 14,110 units). Similarly, there is a decline in demand for the seven-model hatchback range of the Baleno, Wagon R, Swift, Celerio, Dzire, Tour S and Ignis: the 56,953 units sold in April 2024 are down 24% YoY (April 2023: 74,935 units). The Eeco van though continues to soldier on and posted 15% growth at 12,060 units (April 2023: 10,504 units).
