Maruti Suzuki reports marginal increase in production in January

New Delhi [India], February 2 (ANI): India's largest car manufacturer, Maruti Suzuki has registered a marginal increase in production in January 2022, with a total output of 1,61,383 vehicles last month as compared to 1,60,975 units in January 2021, the company said in a regulatory filing.
"The shortage of electronic components had a minor impact on the production of vehicles during the month," the statement noted.
In January 2022, Maruti Suzuki sold 1,28,924 passenger vehicles against 1,39,002 units sold in January 2021, registering a 7.25 per cent Year-on-Year (YoY) decline in domestic passenger vehicle sales. The company's overall sales stood at 1,54,379 units in January this year, registering a YoY decline of 3.96 per cent. Total sales include domestic sales (passenger vehicle + light commercial vehicle) of 1,32,461 units, sales to other OEMs of 3,981 units, and exports of 17,937 units. The company sold 160,752 units in January 2021.
All possible measures have been taken to minimise the impact of the shortage of electronic components, the company said.
Maruti Suzuki sold a total of 430,668 units during Q3 (October-December) FY 2021-22, lower than 495,897 units in the same period, previous year. Production was constrained by a global shortage in the supply of electronic components because of which an estimated 90,000 units could not be produced. In the domestic market, sales stood at 365,673 units in Q3, against 467,369 units in Q3 FY21, as per the financial results for the quarter released on January 25, 2022.
There was no lack of demand with more than 240,000 pending customer orders at the end of the quarter, said the company, and though still unpredictable, the electronics supply situation was improving gradually with expectations of increased production in Q4 FY22, though it would not reach full capacity.
In Q3 FY22, the company clocked its highest ever exports at 64,995 units as compared to 28,528 units in Q3 FY21 which was also 66 per cent higher than the previous peak exports in any Q3. Despite cost reduction efforts, a combination of lower sales volume, high commodity prices and lower non-operating income on account of mark-to-market impact led to a net profit in Q3 FY22 of Rs 10,113 million compared to Rs 19,414 million in the same period of FY21.
In the first nine months of FY 2021-22 (April-December), the total vehicle sales were at 11,63,823 units, including domestic market sales of 9,93,901 units and exports of 1,69,922 units. In the corresponding period of FY 21, the company registered a sale of 9,65,626 units comprising 9,05,015 units in domestic market and 60,611 units in the export market. In the April-December month period of FY22, Maruti Suzuki made a net profit of Rs 19,274 million as against Rs 30,636 million in the same period previous year. (ANI)