Maruti Suzuki India (MSI) reported a 19% year-on-year growth in its monthly sales for October 2023, setting a new record. This increase was primarily driven by robust domestic dispatches and passenger vehicle sales, despite a decrease in the sales of mini segment cars such as the Alto and S-Presso.

The company witnessed a rise in demand for compact car models including the Baleno, Celerio, Dzire, Ignis, Swift, Tour S, and WagonR. Furthermore, utility vehicles like the Brezza, Grand Vitara, Ertiga, and XL6 experienced a significant sales surge of 91%.

In terms of exports, MSI maintained a strong position with 21,951 units dispatched overseas in October 2023. This performance underlines the company’s market resilience amid fluctuating automotive trends.

Maruti Suzuki India’s net profit margin stood at 7.1% for the last twelve months as of Q1 2023, indicating a solid profitability. The company’s return on equity, a measure of financial performance, was 15.2% during the same period, showcasing its efficiency in using investments to generate earnings growth. Moreover, MSI’s revenue growth for Q1 2023 was reported at 18.4%, aligning with the robust sales growth mentioned earlier.