MARUTI SUZUKI - Monthly volume performance - JUL-23

MARUTI SUZUKI — Monthly volume performance - JUL-23 – Himanshu Singh – Research Analyst, Prabhudas Lilladher Pvt Ltd

Slightly better than expected, sharp ramp-up in UV volumes both YoY and MoM. UV mix has improved to c40% of total domestic PV sales compared to c15% last year and c32% last month. Inventory correction likely done in the cars segment.

Passenger Cars contracted YoY by -26.7% to 78,040 units, and MoM by -2.8%

Utility Vehicles grew YoY by 166.6% to 62,049 units, and MoM by 43%

Vans contracted YoY by -7.7% to 12,037 units, grew MoM by 28.7%

Sales to other OEM contracted YoY by -52.2% to 4,746 units, grew MoM by 30.8%

Total Domestic PV Sales grew YoY by 2.7% to 1,56,872 units, and MoM by 14.8%

LCV (Super Carry) contracted YoY by -9.1% to 2,559 units, and MoM by -14.5%

Total Export Sales grew YoY by 9.3% to 22,199 units, and MoM by 12.3%

Total Sales grew YoY by 3.2% to 1,81,630 units, and MoM by 13.9%

UV Mix expanded YoY by 2432bps to 39.6%, and MoM by 779bps