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<ul><li><keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> has reported a drop in 24% in sales in September as compared to the same month last year.</li><li>Indian <keyword id="1108326" type="PERSON" weightage="20" keywordseo="auto-manufacturers">auto manufacturers</keyword> have reported a continuous decline in sales for over a year now. </li><li>Maruti Suzuki had also slashed prices to align with the Government’s plans to revive demand. </li></ul>There seems to be no end to the woes of the Indian auto industry. Maruti Suzuki reported a drop in 24% in sales in September as compared to the same month last year. It sold a total of 122,640 units in September 2019. Indian auto manufacturers have been reporting a consistent decline in monthly sales for over a year now. 
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 “My belief is that we are near the bottom of the downward cycle and the economy, and <keyword id="47168" type="COMPANY" weightage="20" keywordseo="Car-sales">car sales</keyword> should start to accelerate in the near future,” Marutii Suzuki’s chairman RC Bhargava <a href="https://www.thehindu.com/business/Industry/auto-industry-is-near-bottom-of-downward-cycle-maruti-suzuki-chairman-bhargava/article29267803.ece">said at the company’s annual general meeting earlier in August.</a> However, the situation doesn’t seem to have changed in spite of steep discounts and a festive season around the corner. Maruti Suzuki slashed 3,000 contractual jobs in August. Earlier in September, Maruti Suzuki also slashed prices to align with the government’s plans to revive demand. It reduced the price of select models like Alto 800, Alto K10, Swift Diesel, Celerio, Baleno Diesel by ₹5,000. “This reduction of price will be over and above the current promotional offers for the company’s vehicle range,” Maruti Suzuki said.

Maruti Suzuki car sales see no respite for the festive season, decline by 24% in September

<ul><li>Maruti Suzuki has announced its Q2 FY20 earnings</li><li>Maruti profits fall by 39.3% as compared to the same quarter in the previous year.</li></ul>India’s largest car manufacturer Maruti Suzuki’s second quarter profits fell by 39.3% to ₹13,586 million from ₹22,404 million in the same quarter last year. Its total revenue from operations stood at ₹169,853 million. 
 
 
 
 
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 As the quarter reports came in, the shares of Maruti Suzuki fell by 1.68%. In the past one month, Maruti Suzuki's share price has increased as the public sentiment has expected better results from the festive season sales. 
 
 
 
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 When the last quarter results were announced on July 26, its share price gained over a percent immediately after the company’s earnings report because the performance was better than expected. Second quarter woes In the second quarter, its worries only worsened from the first quarter. Its sales fell by 24% in September as compared to the same month last year. It sold a total of 122,640 units during the month. 
 



 
 
 
 
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 In August, it had also slashed 3,000 contractual jobs as it had cut production. Maruti was expecting some traction as it started offering discounts across multiple car models during the the festive season. In September, Maruti Suzuki also slashed prices to align with the government’s plans to revive demand. It reduced the price of select models like Alto 800, Alto K10, Swift Diesel, Celerio, Baleno Diesel by ₹5,000. Maruti’s performance in the first quarter As the car slowdown hit the country’s automobile segment, almost every other manufacturer saw its profits fall in the first quarter of the current financial year. Maruti Suzuki’s first quarter sales fell 14% and profits fell by nearly twice as much, 27.3%. The total car sales for the first quarter had fallen by 17.9% as compared to the same quarter in the previous year.

Maruti Suzuki profits fall by 39.3% for the second quarter

<ul><li>The Japanese car making giant has been hit by severe slowdown in car sales in India.</li><li>Suzuki shares have lost over a sixth of its share value this year due to the fear of depleting earnings.</li><li>Maruti accounts for over 52% of Suzuki’s global sale volumes.</li></ul>India’s largest car maker Maruti Suzuki has cut production for eight months in a row due to lack of buyers. The depleting earnings for Maruti is affecting its Japanese parent Suzuki, who just announced a nearly 40% cut in its estimate for operating income this year. The shares of Maruti fell over 2% immediately after the announcement from Suzuki. "The Company hereby revises the consolidated business forecast due to decrease in Japan production in the course of restructuring final inspection scheme, slowdown in Indian automobile market, and exchange rate fluctuations," <a href="https://www.release.tdnet.info/inbs/ek/140120191010406987.pdf" data-type="tilCustomLink" target="_blank">Suzuki said in a filing</a> with the stock exchanges in Tokyo. <table style="width: 188pt;"> </colgroup> <tbody><tr> <td class="xl63" style="height:15.0pt;width:101pt">March 2020 Forecast</td> <td class="xl63" style="border-left-width: initial; border-left-style: none; width: 87pt;">Cut</td> </tr> <tr> <td class="xl64" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 101pt;">Net sales</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 87pt;">10.30%</td> </tr> <tr> <td class="xl64" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 101pt;">Operating income</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 87pt;">39.40%</td> </tr> <tr> <td class="xl64" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 101pt;">Ordinary income</td> <td class="xl65" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 87pt;">35.30%</td> </tr> <tr> <td class="xl64" style="height: 15pt; border-top-width: initial; border-top-style: none; width: 101pt;">Net income </td> <td class="xl66" style="border-top-width: initial; border-top-style: none; border-left-width: initial; border-left-style: none; width: 87pt;">30%</td> </tr></tbody></table> Brokerage house CLSA has maintained a 'buy' rating on Maruti Suzuki with a target price of ₹7,950 over the next 12 months hoping that the new models will lure some buyers who are still on the fence. The slowdown in car sales is not unique to Maruti. Car sales in India fell 20.5% in September compared to a year earlier. Aside from the economic slump in India, car buyers have shied away from showrooms expecting duty cuts and lower prices as well as fearing a loss of value for their new cars when the new emission norms kick in next year. This has been a debilitating blow for Suzuki for whom India makes for <a href="https://economictimes.indiatimes.com/industry/auto/maruti-continues-to-drive-suzukis-global-growth-story/articleshow/67860711.cms?from=mdr">over half of all its global sale volumes</a>. “In view of the current sales environment, we lower our estimates for India domestic sales to +0.2% for FY2019 (from +5.4%) and +3.7% for FY2020 (+6.4%),” JPMorgan said in a report in June. The steady decline in car sales in India has been the worst in 18 years, according to the Society of Indian Automobile Manufacturers (SIAM). In September 2001, after the tech bubble burst plunging the global economy into a temporary crisis, the sales had dropped down by 21.91%. In rural India, the decline in demand for cars is attributed to a protracted farm crisis, made worse by the ongoing water crisis and deficient monsoon in many parts. This has had a significant impact on Maruti, which has a deeper reach and penetration outside the big cities too. People in India increasingly prefer cab aggregators like Ola and Uber, or even <a href="https://www.businessinsider.in/cars24-used-cars-startup-could-soon-turn-profitable-will-breakeven-by-december-2019/articleshow/69993448.cms">second hand cars to new ones</a>. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/mahindra-suvs-and-pick-up-trucks-are-a-rage-in-south-africa-even-in-a-shrinking-market/articleshow/71518308.cms" data-type="tilCustomLink" target="_blank">Mahindra SUVs and pick-up trucks are a rage in South Africa even in a shrinking market</a> <a href="https://www.businessinsider.in/union-budget-2019-indian-government-announces-tax-subsidy-for-purchasers-of-electric-vehicles/articleshow/70091003.cms">Tata Motors, Maruti, Mahindra will benefit from tax deductions on electric vehicles</a> <a href="https://www.businessinsider.in/cars24-used-cars-startup-could-soon-turn-profitable-will-breakeven-by-december-2019/articleshow/69993448.cms">EXCLUSIVE: Cars24 is racing towards profitability as Indians choose used cars over new ones</a> <a href="https://www.businessinsider.in/tata-motors-jaguar-land-rover-moodys-downgrade/articleshow/69889499.cms">Jaguar Land Rover is dragging Tata Motors along in its downward spiral</a>

Suzuki just slashed its operating income forecast by 40% citing slower sales in India

<ul><li><keyword id="44883" type="CITY" weightage="20" keywordseo="Maruti-Suzuki">Maruti Suzuki</keyword> reports a year-on-year decline by 33.5% in its monthly sales. </li><li>It has done worse than market estimates of 20.9%.</li><li>India’s largest car manufacturer Maruti Suzuki’s profits for the first quarter of FY20 also fell by 27.3%</li></ul>Maruti Suzuki has sold 109,264 units in July 2019, registering a steep 33.5% fall in sales compared to the same month in the previous year. On a monthly basis, its July sales have fallen by 12.3% from its June. Maruti’s sales are worse than what the market expected. Market research firm Emkay Global forecasted that its year-on-year sales would fall by 20.9%. 
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 This fall is in spite of increasing discounts. Bowing down to the intense sales pressure, Maruti had also been increasing its ‘total cash discounts’ offered to consumers. While Alto models saw an 8% increase in discounts as compared to June, the Celerio Automatic and Dzire Diesel versions saw a steep increase of 23% and 27% respectively. India’s largest car manufacturer Maruti Suzuki’s profits fell by 27.3%. It total sales for the first quarter of FY20 fell by 17.9% as compared to the same quarter last year. July brought no cheer for carmakers who are hoping for a possible turnaround. “Volume performance is expected to remain weak across segments due to a high-base effect, increasing cost of vehicle ownership, monsoon deficit and financing issues,” said a report by Emkay Global.

Maruti’s July car sales fall by a shocking 33.5%, despite heavy discounts

<keyword id="19931193" type="General" weightage="20" keywordseo="Maruti-Suzuki-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Maruti Suzuki India" meta.hostid="261" meta.entityid="Maruti Suzuki India">Maruti Suzuki India</keyword> reported its <keyword id="20025887" type="General" weightage="20" keywordseo="highest-ever" source="keywords">highest-ever</keyword> <keyword id="20423741" type="General" weightage="20" keywordseo="monthly-sales" source="keywords">monthly sales</keyword> volume at 206,434 units. Total sales in the month include <keyword id="20025843" type="General" weightage="20" keywordseo="domestic-sales" source="keywords">domestic sales</keyword> of 163,130 units, sales to other original equipment manufacturers (OEMs) of 10,136 units and the highest-ever monthly <keyword id="19916774" type="General" weightage="20" keywordseo="exports" source="keywords">exports</keyword> of 33,168 units. Festival season and on top of that the deep discounts offered by various automakers have invariably helped dealers sell more cars this October. Here is a table listing out the <keyword id="19909974" type="General" weightage="100" keywordseo="Maruti-Suzuki" source="keywords">Maruti Suzuki</keyword> India car-wise sales figures in October: In October, total sales, domestic plus exports combined, were 3.6 per cent higher year-on-year. So far in 2024-25 - April to October, the total sales were 1.64 per cent higher year-on-year. Coming to exports, the shipments in October and April-October were 51 per cent and 17 per cent, higher year-on-year, respectively. In the fiscal year 2023-24, the company exported over 2.8 lakh units to more than 100 countries, holding a commanding 42 per cent share in the country's passenger vehicle exports. In other news, Maruti Suzuki India recently reached a significant milestone, with ist <keyword id="21943254" type="General" weightage="20" keywordseo="Manesar-facility" source="keywords">Manesar facility</keyword> crossing the 1 crore cumulative production mark. The Manesar plant achieved this feat in just 18 years, making it the fastest among Suzuki's global automobile manufacturing facilities to reach the 1 crore production milestone. The facility, which commenced operations in October 2006, is spread over 600 acres and manufactures a range of models, including Brezza, Ertiga, XL6, Ciaz, Dzire, Wagon R, S-Presso, and Celerio. These vehicles serve both domestic and international markets, with exports reaching regions such as Latin America, the Middle East, Africa, and neighboring Asian countries. Since its inception, Maruti Suzuki has produced over 3.1 crore vehicles, reinforcing its leadership in the Indian <keyword id="19945567" type="General" weightage="20" keywordseo="automotive-industry" source="keywords">automotive industry</keyword>. Maruti Suzuki India Limited also started the export of its acclaimed 'Made-in-India' SUV, the Fronx.

Maruti Suzuki India registers highest-ever monthly sales in festive-filled October

<ul><li>Maruti Suzuki has sent an official email asking showrooms not to accept bookings for the Gypsy. </li><li>The Gypsy was Maruti Suzuki’s third car in India and stayed in business for 33 years. </li><li>The production has been reportedly stopped as Maruti would have to incur huge costs to fit the car into the current safety norms. </li></ul>After being an icon in the business for 33 years, <keyword id="-194" type="UNKNOWN" weightage="20" keywordseo="Maruti-Suzuki-Gypsy">Maruti Suzuki Gypsy</keyword> is <a href="https://www.businesstoday.in/sectors/auto/maruti-suzuki-gypsy-journey-comes-to-an-end-showrooms-stop-accepting-bookings/story/324497.html">taking</a> an exit from India’s crowded car market. A leaked official email from Maruti Suzuki shows that the company will be stopping production for the Gypsy. The Gypsy which had become the nation's favourite right from its association with the Indian Army to its off-roading adventures, will not be accepting anymore fresh bookings. All throughout its journey in India, the second generation of the SUV was sold, whereas overseas the car had ramped up to head to the fourth generation. Internationally, the car was sold as ‘Suzuki Jimny’. The decision to discontinue the Gypsy came because Maruti would have had to bear a huge cost to ensure the car fits into the stricter safety and emission norms these days. In <a href="http://www.asianage.com/business/autos/050319/maruti-suzuki-pulls-the-plug-on-the-gypsy.html">2017</a>, the Indian Army too had announced its decision to say goodbye to the good ol’ Gypsy by switching to the Safari Storme. The Gypsy was Maruti Suzuki’s third car in the Indian market after Maruti 800 and Omni. India’s SUV space now has several brands including Mahindra TUV300, Mahindra Thar, Bolero among others vying for market share. Gypsy’s market share has been reducing over the years with just over <a href="https://autoportal.com/newcars/marutisuzuki/gypsy/sales-statistics/">3,500 units</a> sold in the last year. Car sales in India have also declined during the last few quarters and fell by <a href="https://www.businessinsider.in/beyond-india-latest-gdp-data-the-real-cues-about-the-economy/articleshow/68179264.cms">2.42% </a>during July to September 2018. See Also: <a href="https://www.businessinsider.in/can-latecomer-maruti-suzuki-rev-up-electric-car-sales-in-india/articleshow/67534315.cms">Can latecomer Maruti Suzuki rev up electric car sales in India?</a> <a href="https://www.businessinsider.in/beyond-india-latest-gdp-data-the-real-cues-about-the-economy/articleshow/68179264.cms">Why even an economic growth of 6.6% is not believable</a>

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Maruti Suzuki car sales see no respite for the festive season, decline by 24% in September

Sanchita Dash

Maruti Suzuki profits fall by 39.3% for the second quarter

Sanchita Dash

Suzuki just slashed its operating income forecast by 40% citing slower sales in India

Sriram Iyer

Maruti’s July car sales fall by a shocking 33.5%, despite heavy discounts

Sanchita Dash

Maruti Suzuki India registers highest-ever monthly sales in festive-filled October

ANI

It’s the end of the road for the iconic Maruti Suzuki Gypsy – showrooms asked to stop bookings

Sanchita Dash

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