INDIA: Maruti Udyog announces better than expected results
India's leading passenger car company Maruti Udyog has recorded better than expected sales for May 2004 at 44,212 units including exports of 6,171 units. Sales were up 12.8% compared to May last year.
The rise was dampened by the relatively higher comparative base for May 2003 when sales were unusually high following strikes at a critical vendor and transporters in April. This lead to a major shift of April demand to May.
Though overall sales rose, Maruti's bread and butter product, the 800, recorded a drop of 41%. Comparison is skewed due to the unusual events in April last year, which probably affected the 800 the most.
The cumulative sales figure for the B-segment offerings, the Alto, Zen and WagonR posted the highest gains with a 64% rise to 21,137 vehicles.
Exports increased 131% over a relatively smaller base to 6,171 units.
The C-segment offerings - Esteem and Baleno - improved sales 37% to 1,510 units. Price reductions and incentives have helped these make gains.
Deepesh Rathore / Tilak Swarup