Indian automobile manufacturers Maruti Suzuki India Ltd. and Tata Motors Ltd. reported declining sales for August 2024. Maruti Suzuki India reported nearly a 3.9 per cent decline in sales, and Tata Motors reported an 8 per cent reduction in sales figures, according to a Bombay Stock Exchange (BSE) filing on Sunday, September 1.
Maruti Suzuki India, reported sale of 181,782 units in August 2024, compared to 189,082 units in August 2023, according to the exchange filing on Sunday. August sales for the company include 145,570 units sold domestically and 26,003 units exported.
Maruti Suzuki India shares closed 0.24 per cent lower at ₹12,421.25 after Friday’s trading session, compared to ₹12,451.70 in the previous trading session.
The automaker’s August sales decline was fueled by the fall in sales figures in the small car segment which covers the mini and compact cars. The sales declined 18.85 per cent to 68,699 units in August 2024, compared year-on-year with 84,660 units the previous year, as per the sales data in the filing.
The company’s domestic sales took a hit in August as the units sold fell 8.4 per cent to 143,075 units, compared to 156,114 units the same month the previous year, according to the company filling.
Maruti Suzuki’s export data highlighted growth, as the automaker witnessed a 5.64 per cent growth in exports to 26,003 units in August 2024, compared to 24,614 units in the same period the previous year, as per the company.
Tata Motors reported sales of 70,006 units in August 2024, compared to 76,261 units in the same period previous year, as per company’s BSE filling. The company’s commercial vehicle sales fell 15 per cent to 27,207 units in August 2024, compared to 32,077 units in the same month the previous year, as per the company data.
The automaker’s passenger vehicle sales declined 3 per cent year-on-year to 44,142 units in August 2024, compared to 45,513 units in the previous year.
Tata Motors shares closed 0.92 per cent lower at ₹1,109.40 after Friday’s trading session, compared to ₹1,119.65 in the previous market close.
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