Maruti's Oct sales jump 27.6 percent

Maruti's Oct sales jump 27.6 percent

Monday, 01 November 2004, 08:00 Hrs
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MUMBAI: Maruti Udyog Ltd, India's largest carmaker, said Monday that its sales in October rose 27.6 percent over the same period last year as consumer demand for automobiles continued unabated.

The company, a local unit of Japanese auto giant Suzuki Motor Corp, sold 49,399 vehicles in October, up from 38,715 in the corresponding period of 2003, according to sales figures issued by Maruti here.

Of the total sales, Maruti exported 5,458 vehicles, posting a moderate growth of 3.8 percent over a year-ago period.

Maruti, which sells a dozen car models in the domestic market, said its Baleno and Esteem sedans posted a whopping growth of 144.3 percent at 2,577 units as consumers preferred bigger cars.

The company's compact car models - Alto, Wagon-R, and Zen - saw a sales growth of 57.6 percent at 23,334 units in October, up from 14,810 sold in the same month last year.

Sales of its once hugely popular hatchback Maruti-800, however, dipped 4.6 percent to 11,633 units with the cut-price Alto attracting maximum numbers of buyers in the segment.

In the first seven months of the current fiscal year ended Oct 31, Maruti's total sales jumped 20.6 percent to 302,871 units.

The company's net profit in the July-September quarterly period jumped an impressive 48 percent to 1.83 billion over the same period in the previous year.

The company's market share in the domestic passenger car market went up to 55 percent in the first half of the current fiscal, up from 54 percent in the same period last year.

Source: IANS
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