Maruti Suzuki’s sales down 8 percent, flat growth in FY2022

Passenger market leader, Maruti Suzuki India’s domestic sales have declined more than 8 percent to 133,861 vehicles compared to 146,203 cars sold in March 2021, indicative of the overall market trend. For the entire fiscal FY2022, there is a slight 3 percent uptick in Maruti’s domestic sales at 1,331,558 cars compared to FY2021 domestic sales of 1,293,840 cars.

The shortage of electronic components had some impact on the production of vehicles in FY2022. As per the company statement, it has taken “all possible measures to minimise the impact. As the supply situation of electronic components continues to be unpredictable, it might have some impact on the production volume in FY 2023 as well.”

However, exports saved the blushes for India’s leading passenger car maker. Maruti Suzuki India exported 26,496 vehicles during March 2022 clocking its highest ever monthly exports. Even for the entire fiscal exports are at all-time highs. It exported a record 238,376 units in FY2022, the highest in any financial year.

Assuming office as Managing Director & CEO, Hisashi Takeuchi, said, “These export numbers are a reflection of India’s manufacturing potential and the acceptance of India-manufactured vehicles, all over the world.” India manufactured Maruti Suzuki vehicles are exported to over 100 countries. The top five export models in FY2022 were Baleno, Dzire, Swift, S-Presso and Brezza. Top export markets included Latin America, ASEAN, Africa, and Middle East.