Maruti's Shashank Srivastava explains lower-than-expected August sale numbers
Maruti Suzuki's total sales grew by 26.4 percent in August but it was lower than what the street was expecting. The auto major however is confident that things will turn around in the coming few months as it has strong bookings for Ertiga, Brezza, Baleno and Dzire,
Maruti Suzuki's total sales grew by 26.4 percent and came in at 1.65 lakh units as compared to selling 1.3 lakh units in August last year but was lower than what the street was expecting. Total domestic sales grew by 30 percent.
Moreover, sales were lower month on month (MoM) despite the strong order backlog.
While explaining the reason behind the fall, Shashank Srivastava, Senior ED - Marketing and Sales of Maruti Suzuki said, “The number of working days for production in August was less. There were 23 days against the normal 25-26 days. That explains that small drop.”
The company has quite a few pending bookings and it now stands at 377,000. The waiting period is the highest for Ertiga, Brezza, Baleno and Dzire, according to Srivastava.
Maruti is seeing the semiconductor chip shortage situation getting better although "it is not 100 percent okay."
With strong pending bookings and the festive season coming, Maruti, like other auto companies is expecting a pickup in fortunes.
For the full interview, watch the accompanying video
(Edited by : Abhishek Jha)
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!
Why low voter turnout continues to be a serious subject of discussion as Phase-4 voting begins today
May 13, 2024 8:32 AM
Only 12% of candidates in fray in phase 5 are women, says ADR
May 13, 2024 7:15 AM