Introduction
In the calendar year 2023, Maruti Suzuki achieved a remarkable milestone by selling over 20 lakh vehicles. The sales performance for December 2023, however, showed a slight dip compared to the previous month and the same period in the previous year.
Segment-wise Analysis
Mini Cars Segment
Once a stronghold for Maruti Suzuki, the Mini cars segment, comprising models like Alto and S-Presso, experienced a substantial decline, dropping from 9,765 units last year to a mere 2,557 units in December 2023. This decline can be attributed to changing consumer preferences and perhaps increased competition in the entry-level car segment.
Compact Cars Segment
The Compact segment, which includes popular models such as Baleno, Dzire, and Swift, also witnessed a decrease in sales, falling from 57,502 units to 45,741 units. This could be a reflection of evolving market dynamics or specific factors affecting these particular models.
Mid-size Segment
With only the Ciaz representing the mid-size category, sales totaled 489 units in December 2023, a decline from the 1,154 units sold the previous year. The entire year of 2023 saw Ciaz sales amounting to 10,995 units. The diminishing popularity of mid-size sedans in the market might be influencing these numbers.
Focus on Utility Vehicles
Maruti Suzuki has strategically shifted its focus towards utility vehicles, aiming for higher profitability. Models like Brezza, Ertiga, Jimny, S-Cross, and others contributed to the Utility vehicle segment, which recorded a significant increase in sales, reaching 45,957 units in December 2023, up from 33,008 units in 2022. The SUV and crossover trend gaining traction in the market could be a driving factor behind this shift in focus.
Van Segment – Eeco
As the sole representative in both the passenger vehicle (PV) and commercial vehicle (CV) space, the Eeco van accounted for 10,034 units in December 2023 and an impressive 1,36,010 units throughout the calendar year. This versatile and practical van seems to be meeting diverse transportation needs for both personal and commercial purposes.
Domestic Sales and Exports
In December 2023, Maruti Suzuki’s total domestic PV sales, excluding sales to other original equipment manufacturers (OEMs), amounted to 1,04,778 units. While this showed a slight decline from the previous year, the company compensated with an improved performance in exports, shipping 26,884 units in December 2023 compared to 21,796 units in the same period last year. The fluctuations in domestic sales might be influenced by various market dynamics, while the growth in exports could be indicative of Maruti Suzuki’s expanding global footprint.
Total Sales Performance
Taking into account domestic PV sales, CV sales, and sales to other OEMs, Maruti Suzuki’s total domestic sales in December 2023 were 1,10,667 units, a minor decrease from the previous year’s figure of 1,17,551 units. On a positive note, the company demonstrated growth in exports, shipping a total of 2,69,046 units throughout the year 2023. The marginal decline in total domestic sales might be reflective of the broader economic landscape, but the company’s successful exports indicate resilience and adaptability in the global market.
2024-01-01 22:50:40
