Maruti Suzuki Posts Record October Sales, Up 25%
Key Facts
The record was supported by higher sales in India and exports, with exports growing faster than the domestic market. Domestic passenger vehicle sales reached 212,384 units, compared with 176,318 units in October a year earlier. Exports totaled 49,872 units, up from 31,304 units a year earlier. The monthly figures follow a second quarter that saw record sales, but also declines in net profit and operating profit.
Domestic passenger vehicle sales rose about 20.5% to 212,384 units from 176,318 units in the same month last year, according to data reported by ANI, citing the company. In the domestic market, sales of utility vehicles climbed to 97,787 units from 77,571 units a year earlier, an increase of 26%. Sales of mini, compact and mid-size cars also rose to 100,877 units from 85,210 units, up 18.4%. The comparison shows growth across the two main categories listed in the data, with utility vehicles rising faster. The company did not attribute the performance to a specific factor in the available data.
Exports were the fastest-growing component of sales, rising 59.3% year on year to 49,872 units in October from 31,304 units in the same month a year earlier. That exceeded the increase in domestic sales, which rose about 20.5% to 212,384 units. This puts overseas sales in a prominent position in the monthly increase, alongside the expansion in vehicle sales in India. From April to October of fiscal 2026-27, total sales reached 1,655,498 units, compared with 1,299,629 units in the corresponding period a year earlier, an increase of about 27.4%. The cumulative figures reflect continued sales growth over the first seven months of the fiscal year.
The company recorded its highest-ever quarterly sales in the second quarter of fiscal 2026-27, at 696,654 units, up 26.5% from the same period a year earlier. Its share of the domestic passenger vehicle market rose by 2.2 percentage points to 40.8% during the quarter. The company said demand exceeded supply despite capacity additions, and that inventory across its distribution network stood at about 17 days at the end of the quarter. It also reported about 200,000 pending bookings at that time. In its results statement, the company said, "Demand continued to exceed supply," referring to pressure on supplies from demand.
Sales growth coincided with a decline in quarterly profit, despite net sales rising to 506,155 million rupees in the second quarter from 401,358 million rupees in the corresponding period of the previous fiscal year. Operating profit before interest and tax fell to 28,037 million rupees from 33,820 million rupees, which the company attributed to higher commodity costs linked to the conflict in West Asia. Net profit also declined to 24,149 million rupees from 33,028 million rupees a year earlier. The company linked the drop in non-operating income to mark-to-market losses on investments. October's strong sales reading therefore followed quarterly results that combined revenue growth with pressure on profits.
The company forecast total sales volume growth of between 7% and 10% in the second half of fiscal 2026-27, with domestic sales growth of at least 10%. The forecast follows total sales growth of about 27.4% from April to October and October's record monthly level for the company. Second-quarter data also showed pending bookings and low inventory across the distribution network at the end of the period. The evidence provided no figures on the company's share performance after the October sales announcement.