Maruti Suzuki shares down almost 4% on sales dip

Maruti Suzuki India Ltd has reported a 2.6-per cent year-on-year fall in its January sales, at 1,13,606 lakh units against 1,16,606 units sold in the same month of 2015, on the back of a big fall in exports.

Maruti Suzuki India shares fell by almost 4 per cent today after the company reported 2.6 per cent decline in total sales for January.

Sales of vans Omni and Eeco were up by 3.9% 10,512 units in Jan 16 as compared with 10,113 units in the same period of past year.

On the export front too, Maruti is seeing some pressure of slowing sales. Exports during the month declined 34% as compared to 11,047 units in January 2015. It needs to sell 92,361 units to cross this figure, which it should in February itself.

In a official statement, Maruti Suzuki has cited “lesser number of working days in January 2016” which has impacted overall production and dispatch, and in turn lower domestic sales.

And going by the wide range of new models lined up to be showcased at the 2016 Auto Expo, we can be sure that the company continue to go from strength to strength in the coming months.

Similarly Tata Motors sales of passenger vehicles were at 10,728 units last month, showing a decline of 18 percent over same period a year ago.

The company’s scrip at the Bombay Stock Exchange (BSE) receded by 3.68 percent during the day’s trade at Rs.3,946.80 from its previous close of Rs.4,097.45.

Meanwhile European auto maker Volkswagen saw higher offtake at 4,018 units last month up from 3,734 units in January 2015.

In the two-wheeler segment, Eicher Motors Ltd., which will unveil a new bike on Tuesday, zoomed up 65 percent year-on-year.

Ford India also saw its domestic sales grow 5.98 per cent at 7,045 units last month as against 6,647 a year ago.

Eicher Motors’ Royal Enfield division rolls out heavy two-wheelers.