Maruti Suzuki India reported a nearly 2 percent drop in sales of its vehicles as the country’s biggest carmaker by market value struggled with a wrenching slowdown, one of the worst in the industry’s history.
Total sales in November fell to 1.5 lakh units and domestic sales were down 1.6 percent at 1.43 lakh from a year ago, Maruti said in a statement.
The year-on-year total sales figure was above a CNBC-TV18 poll of 1.47 lakh units.
Indian automobile sales have been falling for several months, with the industry also battling a credit squeeze, higher insurance costs and a shift towards ride-hailing services such as Ola and Uber.
Maruti’s mid-size car Ciaz showed a 62 percent drop in sales at 1,448 units in November from a year ago. Exports declined 7.7 percent at 6,944 units.
Only compact models such as the new WagonR, Swift, Celerio, Ignis, Baleno and Dzire as well as Super Carry light commercial vehicle showed an increase, rising by 7.6 percent and 6.5 percent in November.
Maruti reduced production in August and September to cope with the slowdown. The company reduced the number of its temporary workers in August.