Maruti's July sales data sparks hope for other carmakers

Maruti's July sales data sparks hope for other carmakers
Reliance Securities expects the company to report a loss of Rs 450 crore for the June quarter compared with a profit of Rs 1,435.50 crore.
  • India's largest carmaker saw a 1.1% fall in monthly car sales in July compared to an estimated 13% fall, according to the broking firm Nirmal Bang.
  • July exports fell 27% to 6,757 units compared to the same period last year.
  • Check out the latest news and updates on Business Insider.
Automobile major Maruti Suzuki on Saturday reported a marginal year-on-year decline of 1.1 per cent in total sales during July 2020.

Accordingly, the company's total off-take declined to 108,064 units from 109,264 units sold during July 2019.

The total sales include 100,000 units off-take in the domestic market and 1,307 units to other OEM.

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As per a company statement, exports during the period under review fell to 6,757 units from 9,258 units being shipped out in July 2019.

"Maruti Suzuki India Limited posted total sales of 108,064 units in July 2020. This is a growth of 88.2 per cent over June 2020 and a fall of 1.1 per cent over July 2019,"

"This includes domestic sales of 100,000 units and 1,307 units for other OEMs in the domestic market. In addition, the company exported 6,757 units in July 2020."

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Maruti records its first quarterly loss in at least a decade - lockdown pain drags revenues lower by 79%
There may be little solace for Maruti, M&M, Hero Moto, Bajaj Auto and others in the July auto sales data

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