Maruti Suzuki market share growth in 2024 with record-breaking sales and export performance

Maruti Suzuki Market Share in 2024: Record-Breaking Sales and a Bright Future Ahead

Maruti Suzuki, India’s leading passenger vehicle manufacturer, has been performing exceptionally well, and Maruti Suzuki market share in 2024 is shaping up to be a year of continued success. The company recently recorded its best-ever monthly sales in December 2024, signaling a strong future for the brand. In this post, we’ll dive into the factors driving Maruti Suzuki market share in India, its impressive performance in December, and the outlook for the coming year.

Record-Breaking Sales in December 2024

In December 2024, Maruti Suzuki India Limited achieved a significant milestone with 178,248 units sold. This includes 132,523 units in domestic sales, 8,306 units sold to other Original Equipment Manufacturers (OEMs), and a record-high 37,419 units in exports. This figure represents a 29.6% year-on-year (YoY) growth compared to December 2023, when Maruti Suzuki market share reached 137,551 units.

For the first time in over a year, Maruti Suzuki market share achieved a sales growth of over 20% in a single month. This performance not only exceeded analysts’ expectations (who had predicted 171,500 units) but also confirmed the company’s leadership in the market.

The Key Drivers Behind Maruti Suzuki’s Growth

Several factors contributed to Maruti Suzuki market share growth in December 2024:

  1. Mini Segment Surge
    The Mini Segment, which includes popular models like the Alto and S-Presso, saw a massive 190% YoY growth. This growth is a clear indicator that Indian consumers continue to favor affordable, fuel-efficient vehicles. The ability to cater to this demand has been a critical success factor for Maruti Suzuki’s dominance in India’s market.
  2. Strong Export Performance
    Maruti Suzuki market share in international markets also experienced a robust 39% YoY increase, with the company exporting 37,419 units in December 2024. This performance surpassed the 26,884 units exported in December 2023, proving that the brand’s reach is expanding beyond India.

Stock Performance: Investor Confidence Soars

Following the announcement of its impressive sales figures, Maruti Suzuki’s stock saw a sharp increase. The stock surged by up to 3.16%, reaching a high of Rs 11,210 per share on the Bombay Stock Exchange (BSE). By the afternoon of the same day, the stock traded at Rs 11,179.7, marking a 2.88% gain.

Maruti Suzuki market share in the stock market has gained 9% over the past year, with its 52-week low at Rs 9,737.6 and 52-week high at Rs 13,680. Despite some fluctuations, the stock continues to perform well, reflecting investor confidence in Maruti Suzuki’s market share and future growth.

Moreover, 43 analysts have rated Maruti Suzuki as a ‘Buy’, with 26 analysts giving it a ‘Strong Buy’ recommendation. This positive outlook reflects the market’s confidence in Maruti Suzuki market share and its ability to maintain its leadership in India’s highly competitive automotive market.

Maruti Suzuki’s Market Share: A Strong 2024 Outlook

Looking ahead to 2024, Maruti Suzuki market share in India is expected to remain strong. The company’s ability to generate impressive domestic sales, coupled with its growing export business, positions it well for continued dominance. Maruti Suzuki has managed to capture the growing demand for compact, affordable cars, and it’s poised to expand even further with new models and innovations.

The company’s focus on practical and affordable solutions, like its Mini Segment vehicles, gives it an edge in India’s price-sensitive market. Additionally, Maruti Suzuki market share is strengthened by the brand’s investments in technology and design, keeping its models attractive and competitive.

What’s Next for Maruti Suzuki?

In 2024, Maruti Suzuki plans to further solidify its position in both domestic and international markets. The company’s ongoing focus on affordable vehicles, increased exports, and technological advancements will keep it at the forefront of India’s automotive market. As new models are introduced and consumer demands evolve, Maruti Suzuki market share is expected to continue growing.

Maruti Suzuki market share dominance in India is unlikely to be challenged anytime soon. As the country’s top automaker, Maruti Suzuki is not only a leader in terms of sales but also in shaping the future of the Indian automotive industry.

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