Maruti Suzuki February sales miss estimates, down 0.8% to 1.48 lakh units

Ciaz sales, which comes under mid-size segment, plunged 37 percent while utility vehicle and vans segments sales remained strong, rising 7.4 percent 17.2 percent respectively.

Maruti Suzuki India continued to disappoint street as the company sold 1.48 lakh units in February, registering a 0.8 percent decline compared to 1.49 lakh units sold in same month last year.

Numbers were lower than expectations of 1.56 lakh units by Nomura, the Japanese brokerage firm. Subdued exports and slow growth in domestic business hit total sales.

Exports were down by 19.6 percent year-on-year to 9,582 units while domestic sales increased 0.9 percent to 1.39 lakh units compared to same month previous year.

In passenger car segment, Maruti sold 1 lakh units during the month, lower by 3.3 percent against 1.03 lakh units sold in February 2018, dented by mini segment

Alto and old WagonR sales dropped 26.7 percent while new WagonR included in compact segment which sales in total (including Celerio, Ignis, Swift, Baleno, Dzire) increased 11.4 percent YoY in February.

Ciaz sales, which comes under mid-size segment, plunged 37 percent while utility vehicle and vans segments sales remained strong, rising 7.4 percent 17.2 percent respectively.

At 11:16 hours IST, the stock was quoting at Rs 6,857.95, up Rs 25.70, or 0.38 percent on the BSE.

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