Maruti Suzuki Sales Up by 9.1% Y-O-Y in Q1 FY2023-24, Sells 4.35 Lakh Units in India

The Indian arm of the Japanese carmaker Maruti Suzuki sold 4.35 lakh units during the first quarter of the financial year 2023-24, recording a rise of 9.1 per cent on a year-over-year basis in comparison to the same period last year. In the domestic market, the company managed to sell 4,34,812 passenger vehicles during Q1 FY2023-24. Whereas, the export figures for the said period stood at 63,218 units, down from 69,437 samples sold in the same quarter of the last fiscal. Cumulative sales of the vehicles increased by 6.4 percent to 4,98,030 units in Q1 FY2024, compared to the same period last year. Meanwhile, the Indian manufacturer has 3,55,000 open orders at the moment. The deliveries of these orders will begin shortly, according to Maruti Suzuki. Besides, the shortage of semiconductor chips prevented the production of more than 28,000 samples during Q1 FY2024. 

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Maruti Suzuki Net Sales & Net Profit in Q1 FY2024

Maruti Suzuki claims that its net sales reached a record high of Rs 30,845 crore, up from Rs 25,286 crore in the same period last year. This period's net profit increased by over 145 per cent to reach Rs 2,485 crore, thanks to larger sales volumes, cost reduction efforts, improved realisation, and higher non-operating income. The net profit registered in the same period the previous year was Rs 1,012 crore. The Maruti Suzuki Fronx, the Baleno, and the Grand Vitara were instrumental in driving the company's net profit to Rs 2,485 crore. 

Maruti Suzuki's Recent Launches

In addition to the abovementioned models, the company's model line-up also includes the new Jimny 5 Door, the Invicto MPV, and the Fronx S-CNG. Moreover, the first electric vehicle – the eVX – in its portfolio is expected to make its debut in 2025.

Maruti Suzuki has also begun exporting its Fronx SUV. The initial batch, comprising 556 units, was shipped from ports in Mundra, Mumbai, and Pipavav to destinations in Latin America, the Middle East, and Africa. According to industry reports, Maruti Suzuki has high expectations for the vehicle and aims to increase its market share globally through its exports. 

Maruti Suzuki eVX Electric SUV

The eVX electric SUV will come equipped with a 60kWh battery pack that offers a driving range of up to 550km on a single charge. The upcoming SUV is likely to be based on an exclusive EV platform, designed collaboratively by Maruti Suzuki and Toyota. Expect an ex-showroom pricing of Rs 25 lakh in our market. Upon launch, the electric SUV will rival the likes of the Hyundai Kona Electric, the MG ZS EV, and more. For those unaware, the Japanese carmaker showcased the eVX Concept at 2023 the Auto Expo. 

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According to the spy images that surfaced in June 2023, the new electric SUV from the house of Maruti Suzuki appeared almost identical to the concept version. It showed an upright front fascia with L-shaped headlamps and a blanked-off grille. In addition, it also featured flared wheel arches, narrow wraparound taillights, and a built-in roof spoiler at the rear.