Signs of improvement in retail sales in July: SMC

"The Indian market is usually a bit slower in the first quarter than the rest of the year, but this year (demand) has been slower than expected, especially due to the (Lok Sabha) election and adverse weather, including heavy rain and heat waves," SMC told analysts.

"As inventories have increased, we are making adjustments...This year, the festival season starts in late August, a little earlier than the previous year, and the higher the demand, the volume for the whole period becomes bigger." Maruti Suzuki's production increased 7.4 per cent year-on-year to 496,000 units in the first quarter of 2024-25, but sales nudged up only 1.2 per cent Y-o-Y to 427,000 units. MSIL holds a 40 per cent share in the Indian car market.