June sales push Maruti Suzuki's market share in Q1 above 42%
14 July 2014
Maruti Suzuki India (MSI), the country's largest carmaker, has increased its market share in passenger vehicle segment in the first quarter of the current fiscal to 42.19 per cent, helped by the strategy of focusing on first time buyers and rural markets.
The company saw its total sales in June rise 33.5 per cent to 1,12,773 units, up from 84,455 units sold in June last year, while its market share rose to 45 per cent.
Maruti Suzuki sold 1,00,964 cars in the domestic market in June this year against 77,002 units sold in June last year, a 31.1-per cent increase year-on-year.
Exports rose 58.4 per cent to 11,809 units in June 2014 from 7,453 units exported in June last year.
In the April-June period, the company sold 2,41,812 units of passenger cars and utility vehicles out of an industry total of 5,73,038 units, gaining a market share of 42.19 per cent, latest data available with the Society of Automobile Manufacturers of India (SIAM) showed.
During the same period last fiscal, Marti Suzuki had sold 2,22,645 vehicles against the industry total of 5,58,416 units - a market share of 39.87 per cent.
In June, the company's market share rose to 45 per cent with 91,226 cars and utility vehicles sold out of a total 2,04,081 passenger vehicles sold during the month.
"Some of the strategies such as focus on first time buyers, on exchange, on urban markets, on rural opportunities have started giving us results," said COO (Marketing and Sales) Mayank Pareek.
The company closed the first quarter with over 10 per cent growth even though the period is typically slow from the sales point of view, he said.
After long time, the company crossed the milestone of over 45 per cent market share in monthly sales, Pareek said.
"An interesting part of the June 2014 sales is that our retail sales are greater than wholesale in the month," Pareek said, adding that performance was the outcome of efforts by field teams and strategies put in place early this year.
"First time buyers who were holding back sales are now showing signs of revival. It is clearly evident in growth of over 52 per cent (in June) of Mini segment comprising of entry level Alto and Wagon R," he added.
The company sold 47,618 units of mini segment cars in June, up 52 per cent, as against 31,314 units a year ago. Pareek said sales in urban areas have revived.