Maruti Suzuki sells 1.7 million vehicles in CY2023, SUVs and MPVs record 68% growth

India’s passenger vehicle market leader has sold a total of 17,07,668 units in the domestic market CY2023, which makes for 8.35% year-on-year growth (CY2022: 15,76,025 units). This India total, when added with sales of 35,012 units of the Super Carry LCV, sales to other OEM (Toyota Kirloskar Motor / 54,493 units) and highest-ever annual exports of 269,046 units, grows to 2,066,219 units, up 42.37% (CY2022: 1,451,237 units). This makes CY2023 the first year in which Maruti Suzuki has surpassed the 2-million-unit sales milestone. 

The industry bellwether registered its best monthly sales last year in festive October – 168,047 units – and averaged monthly sales of 142,305 units which also translates into daily sale of 4,678 units on each day in CY2023.

UV sales of 566,545 units contributed to 33.17% of Maruti Suzuki’s CY2023 total, compared to 21.39% in CY2022, depicting just how strong customer demand has been for the company’s UVs and premium Nexa SUVs/MPV.

Providing the sales charge, as it has been for the entire year, has been the company’s SUV and MPV range. The eight-model portfolio, comprising the Brezza, Grand Vitara, Fronx, Jimny, S-Cross, XL6, Ertiga and the new Invicto, together sold 566,545 units, which is a handsome 68% YoY increase (CY2022: 337,157 units). This vehicle category contributed to 33.17% of Maruti Suzuki’s sales last year, compared to 21.39% in CY2022, clearly depicting just how strong customer demand has been for the company’s UVs and premium Nexa SUVs/MPV.

The sustained demand for all these utility vehicles has not only helped the company top the SUV charts and market share but notably helped buffer the decline in sales of its two hatchbacks, seven compact cars and the sole premium sedan. A comparison of CY2023 with CY2022 wholesales reveals that sales of the Alto and S-Presso at 158,537 units, which contributed 9.28% to total sales, were down 30% YoY (CY2022: 227,824 units). Demand for the Baleno, Swift, Wagon R, Dzire, Tour S, Celerio and Ignis was marginally down was 4% to 835,581 units (CY2022: 869,040 units). These seven models accounted for 48.93% of total sales in CY2023, down from 55.14% in CY2022. The Eeco van sold 136,010 units, up 9% YoY and accounted for 7.96% of Maruti Suzuki’s sales in CY2023.

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