Rising SUV (sport utility vehicles) sales are helping Maruti Suzuki offset a continued weakness in its ‘bread and butter’ small-car segment, as aspirational customers increasingly look to upgrade to premium vehicles.
A 6% increase in the average selling price (ASP) of its vehicles, on account of a higher contribution of pricier SUVs to its total sales, helped the company offset the impact of deep discounts during the December quarter, a period of festivities during which firms typically cut prices to lure customers.
The Gurugram-based company reported a standalone net profit of ₹3,130 for the quarter ended December, a 33% year-on-year jump, driven by increased SUV sales even as small-car offtake remained subdued.
Maruti Suzuki sold 501,207 vehicles during the quarter, out of which 429,422 units were sold in the domestic market and 71,785 were exported, the highest-ever for any quarter.
Denne historien er fra February 01, 2024-utgaven av Mint Mumbai.
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Denne historien er fra February 01, 2024-utgaven av Mint Mumbai.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
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