Your good car deal costing heavy on Maruti Suzuki's pocket
Maruti Suzuki saw a bumpy third quarter as the automaker struggled with higher discounts and weak small car sales, leading to a lower-than-expected profit.
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For Maruti and its peers, FY25 has been about poor consumer sentiment, which had raised car inventories everywhere. Hyundai India also reported lower third-quarter earnings, while Tata Motors and Mahindra & Mahindra are yet to announce its results.
Maruti Suzuki's shares closed Wednesday at Rs 11,979.95 a piece, down 1.18% on BSE.
Automakers were hoping for October to bring the demand spike that is typical of the festive period. Sales during Onam and Ganesh Chaturthi had already failed to match expectations and to entice potential buyers who may still be undecided about the timing of the purchase, the companies are offering incentives and hefty discounts.
But car sales during this festive season rose only 7%, thanks to the «unprecedented discounts,» as FADA had called it.
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