Maruti Suzuki had given us a hint of its growing profitability at the launch of its most expensive product, the Invicto. Now, it has given us straight, hard numbers in the form of its April to June, 2023 financial reports.
Fronx was showcased at the Auto Expo 2023
The company sold a total of 4,98,030 vehicles during the first three months of this fiscal year, a jump of 6.4 per cent when compared to the same period last year. The domestic sales figures stood at 4,34,812 units which amounts to a hike of 9.1 per cent over the last time. The export numbers during the period stood slightly lower at 63,218 in comparison to 69,437 units in the same quarter of 2022. A shortage of important electronic components resulted in a reduction in production of 28,000 units in the previous quarter.
The Invicto was launched in July 2023
The overall sales figures might be impressive but the company also informed of a current product backlog of 3,55,000 vehicles. However, the brand has acknowledged the same and is working on delivering these orders as soon as possible.
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Maruti Suzuki also confirmed that it registered its highest ever net sales worth Rs. 30,845 crores compared to Rs. 25,286 crores in the same period last year. The net profit registered in this period was Rs 2,485 crores instead of Rs 1,012 crores in the same period last year. This amounts to a massive jump of 145.4 percent in net profit. The profit has been attributed to larger sales volumes, cost reduction efforts, improved realisation and higher non-operating income.
India was the first market to get the Jimny 5-door
Maruti Suzuki has expanded its product portfolio extensively in the last couple of years. In the last few months, the brand also launched the Fronx, Jimny and the Invicto through its premium Nexa dealerships. The carmaker had earlier revealed that apart from leading the under Rs 10 lakh market, it also gained the top position in the Rs 10 lakh to Rs 20 lakh segment in the country. Recently, it also started exporting the Fronx to Latin American and African markets.
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