Maruti Suzuki Sales: Maruti Suzuki sales fall 6.8% in FY21 to 13.62 lakh units | – Times of India


NEW DELHI: Maruti Suzuki India on Tuesday announced the sales in the domestic market stood at 1,361,722 units, lower by 6.8%, in the financial year 2020-21.
The exports also declined by 5.9 per cent in the same period at 96,139 units.
The largest carmaker also reported a 9.7% drop in fourth-quarter profit due to feeble demand for vehicles during the Covid-19 pandemic and surging prices of commodities.
After a steep fall in car sales last year when the pandemic first hit, Maruti’s sales picked up in India over the past two quarters as people opted out of public transport and poured their lockdown savings into big-ticket items such as cars.
Still, as the carmaker dealt with rising costs of steel and copper that threatened margins, it passed on some of those costs to customers. Maruti, which sells every second car in India, has already bumped up the prices of its cars twice this year.

Source link