India’s leading carmaker caps off a tough financial year with a brutal March; Maruti recorded an 18.2 percent drop in domestic PV sales since FY2019.
With the impact of the coronavirus (COVID-19) pandemic, the subsequent suspension of operations and a nationwide lockdown, Maruti Suzuki sales took a heavy hit in the month of March. The carmaker saw overall domestic passenger vehicle sales decline by 47.4 percent in comparison to March 2019. Negative sales growth around and in excess of 50 percent were the norm across individual segments, with only its Mini segment (comprising Alto and S-Presso models) bucking this trend with a sales decline of just 5 percent (15,988 units as against 16,826 units in March 2019).
March 2020 capped off a tough financial year for Maruti Suzuki. The carmaker recorded an 18.2 percent drop in domestic passenger vehicle sales in the last financial year vis-à-vis sales in the preceding financial year. Putting it in numbers, the carmaker sold 14,14,346 cars in FY2020 in the Indian market while in the previous financial year, total domestic sales amounted to 17,29,826 units.
Moving to the carmaker’s individual categories, the carmaker saw a steep decline in sales in its Mini segment that comprises models such as the S-Presso and Alto. Here, sales down by a significant 32.9 percent, year on year. Other segments that saw a steep decline were the midsize sedan segment, with sales for the Ciaz down by 45.3 percent, and the company’s van segment, which saw a 33.7 percent sales decline, with the Omni bowing out of the market last year.
The carmaker though recorded better figures in its compact (WagonR, Dzire, Swift, Baleno, Ignis, Celerio) and utility vehicle space (Gypsy, Ertiga, S-Cross, Vitara Brezza, XL6). Sales were down by 9.7 percent and 10.9 percent respectively, year on year.
With the nationwide lockdown in force, all carmakers seem set for a tough April ahead as well. Maruti, that has made the move to a petrol-only line-up for the BS6 era, could have it harder than others.