After remaining quiet in the SUV segment for a while, the country’s largest automotive manufacturer Maruti Suzuki India Limited (MSIL) recently entered the segment with two of its latest models – the new generation Brezza and the all-new Grand Vitara. And since their respective launches both SUVs have garnered an immense amount of appreciation and sales from the people of the nation. Recently it was revealed by MSIL that combined both the models have crossed the 2 lakh bookings mark in the country.
3 big reasons why everyone’s buying the Brezza and Grand Vitara
- The new Brezza is bigger, more muscular and also has more features than the outgoing model. This makes it more attractive to buyers who want a sub-4 meter compact SUV.
- The Grand Vitara Strong Hybrid delivers a diesel-beating 28 Kmpl mileage. It can also function as a full-electric car for limited distances.
- Both cars have fresh styling, a generous feature set, are competitively priced, and come with the promise of Maruti Suzuki’s fantastic after sales srevice and strong resale value.
Due to the reservations made for these SUVs, the company also saw its best-ever Q2 sales. In the second quarter of this fiscal year, Maruti Suzuki India was able to sell over 5 lakh vehicles. The outcome was a 38 percent year-over-year rise in volume. In addition to the SUVs, the company this year has also introduced several new models in India. The list of Maruti Suzuki India launches includes the likes of the newest generation of the 2022 Maruti Suzuki Baleno, the all-new Maruti Suzuki Alto K10, the facelifted Ertiga, and CNG variants of other models as well.
Maruti Suzuki India recently published the financial results for the second quarter (July-September 2022) of FY2023. The data show a strong year-over-year increase. The company, which leads the Indian passenger car industry with a 41% market share, sold 517,395 automobiles in total during the second quarter, the most ever for any period. Sales of its PVs, Super Carry LCV, and “sales to other OEM” (Toyota Glanza and Toyota Urban Cruiser for Toyota Kirloskar Motor) totaled 454,200 units, a 42% YoY increase, in the domestic market.
In terms of exports, Maruti Suzuki delivered 63,195 units overall in the second quarter, an increase of 6% YoY. (Q2 FY2022: 59,408). The firm, which seized the No. 1 PV exporter position from Hyundai Motor India in FY2022, has shipped 131,070 units in total in the first half of the current fiscal year, an increase of 26% YoY (H1 FY2022: 103,622). If not for the ongoing chip scarcity and ensuing lack of electronic components, which reduced output by around 35,000 vehicles in this quarter, the automaker’s Q2 FY2023 statistics would have been higher. At the end of September 2022, the company revealed that 412,000 automobiles were still on backorder from customers.
Maruti Suzuki has reported its highest-ever quarterly revenue of Rs 29,931 crore, up 46% YoY, as a result of the robust double-digit sales increase in Q2 (Q2 FY2022: Rs 20,538 crore). Operating profit in Q2 rocketed out to Rs 2,046 crore, up 1966% on a low year-ago basis (Q2 FY2022: Rs 98.8 crore) (Q2 FY2022: Rs 98.8 crore). Due to the severe decline in operating profit in the second quarter of FY2022 as a result of sharp rises in commodity prices and supply shortages for electronic components, the results of Q2 FY2022-23 are not exactly comparable with those of Q2 FY2021-22.
In other Maruti Suzuki India Limited news, the company has announced a recall for a select number of its models. The company is recalling a total of 9,925 units of its three well-liked compact hatchbacks, the WagonR, Celerio, and Ignis. To address a potential problem with the rear brake assembly pin, all three hatchbacks are being recalled. For this recall involving all of these vehicles, which were produced between August 31 and September 1, 2022, Maruti Suzuki has filed a regulatory filing.