Maruti drives July's auto sales surge

GST gives good growth momentum to car sales in July

GST gives good growth momentum to car sales in July

Shares of Maruti Suzuki India (MSI) on Tuesday went up by almost 2 per cent after the company posted a 20.6 per cent rise in total sales for July. Stock view: Maruti Suzuki India Ltd is now trading at Rs 7885, up by Rs 177.05 or 2.3% from its previous closing of Rs 7707.95 on the BSE.

The mini segment (Alto and WagonR) grew by 21 per cent year-on-year (YoY) to 42,310 units in the domestic market against 35,051 units in July 2016, MSIL said.

Domestic sales grew by 22.4 percent year-on-year to 1.54 lakh units while exports grew by 0.1 percent to 11,345 units in July, which were also ahead of expectations.

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Importantly, for the company, the sales growth is across all vehicle segments - cars, utility vehicles and vans. Ciaz sales climbed 23.5% to 6,377 units. In the domestic market, Maruti had sold 125,778 units. On an year-to-date basis, total sale of the company rose by 24% to 2,48,457 units compared to 2,00,861 units during April to July 2016.

Compact cars like Swift, Ritz, Celerio, Ignis Baleno and Dzire sales were up 25.3%, at 63,116 units.

Meanwhile, home-grown auto firm Tata Motors reported a 7 per cent increase in total sales at 46,216 units in July. Sales of passenger vehicles in the domestic market grew 10.23 per cent to 14,933 units last month as against 13,547 in July previous year.

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Sales of Maruti UVs (Gypsy, Ertiga, Vitara Brezza, S-Cross) crossed the 25,000 unit mark for the first time in a month, up 48.3 percent to 25,781 units (July 2016: 17,382).

On NSE, shares of the company closed 1.36 per cent higher at Rs 7,856.10.

Speaking about overall sales registered in July 2016, the number a year ago was 137,116.

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