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    Maruti records highest ever exports in a fiscal year; March sales meet street expectations

    Maruti records highest ever exports in a fiscal year; March sales meet street expectations

    Maruti records highest ever exports in a fiscal year; March sales meet street expectations
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    By CNBCTV18.com  IST (Updated)

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    In March, Maruti's total sales have been reported at 1.70 lakh units which is in line with Nomura's expectations. Compared annually, this is an uptick of 2 percent versus 1.67 lakh units in March 2021. 

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    India's biggest auto major Maruti has recorded its highest ever exports in a fiscal year. The company shipped 238,376 units versus 11,597 compared year-on-year, to over 100 countries in FY22.
    It is also noteworthy that Hisashi Takeuchi has taken over as MD and CEO of Maruti Suzuki from today (April 1).
    For the month of March, total sales have been reported at 1.70 lakh units which is in line with Nomura's expectations. Compared annually, this is an uptick of 2 percent versus 1.67 lakh units in March 2021.
    Domestic sales for the company however saw a dip of 7.4 percent at 1.43 lakh units versus 1.55 lakh units, compared in the same period.
    The company in a statement has said that the shortage of electronic components, especially semiconductors, has had an impact on production.
    "As the supply situation of electronic components continues to be
    unpredictable, it might have some impact on the production volume in FY 2022-23 as well," the statement reads.
    Shashank Srivastava, ED - Marketing and Sales, Maruti Suzuki, last week told CNBC-TV18 that the company is looking to roll out its first electric vehicle (EV) before 2025. He, in fact, expects 8-10 percent of the overall passenger vehicle (PV) market to come from electric vehicles by 2030.
    At the time of publishing, the Maruti Suzuki stock is up around a percent in today's (April 1) trade. In the past five trading sessions, the stock is up 2 percent but in the past month, it is down 2.2 percent.
    Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
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