Mayank Pareek, COO (Marketing and Sales) at Maruti Suzuki said the footfall has started getting converted into sales. Shares in India's largest car manufacturer surged over 3 percent to Rs 2,517.75 after the company reported a 33.5 percent jump in its June sales.
Its total vehicle sales in June came in at 112,773 units, compared to 84,455 units during the same month last year. Maruti's numbers were better than analyst expectations.
Pareek said WagonR was its top seller with 17,000 units sold in June. "There was a big surge in first-time car buyers," he told CNBC-TV18's Sonia Shenoy and Anuj Singhal. He said exchange sales have grown 34 percent in the month of June. A good turnaround was also seen in the last 5-6 weeks.
Also Read: Maruti to be biggest beneficiary of sops extension: Nomura
Exports during the month rose by 58.4 per cent to 11,809 units as compared to 7,453 units in June last year. However, Pareek is not so bullish on exports for FY15.
Maruti is planning for a healthy double-digit growth in car sales for FY15. Its market share for June was at 45.8 percent.
Pareek said the auto major saw higher retail sales compared to wholesales in June, which he feels is a very positive sign for the industry. He said the high discount offers though likely to continue, may taper down July onwards.
Commenting on the sales of Maruti's Celerio, Pareek said the company managed to sell 5000 units of the car in June. It is looking to improve supply pipeline for Celerio, which is currently facing supply constraints.
Pareek said the company has exciting launches lined up in the coming days and months.
Below is a verbatim transcript of the interview on CNBC-TV18
Sonia: You clocked 1.12 lakh sales for the month of June, which is higher than street expectations. Can you take us through what lead to the good performance this time segment wise?
A: This has come on top of many things. I will give you reasons; this time we have grown in all segments and since March customers were holding back on their purchases despite of having high footfalls and high enquiries. However, over the last five-six weeks we are seeing that footfalls are getting converted into sales. Also, we have seen a big surge in the first-time car buyers.
If you see our numbers, our entry level cars like Alto and Wagon-R have clocked high numbers. In fact, Wagon-R sales have been the highest-ever so far. We have sold more than 17,000 Wagon-R this month. So, first-time buyers have come back.
We have also seen great upsurge in exchange. It has grown by 34 percent. We exchanged 34,000 vehicles in this month which is almost same as the second largest car maker in this country. So, all over I have seen a great turnaround since last five-six weeks.
Anuj: The excise duty cut has also been extended. Do you think that would lead as well and would this kind of sales number continues at Maruti?
A: That has helped. The excise was done in March first week, but for first two months, we didn't see much of an effect because elections were going on and customers were holding back on their decision. But immediately after that, we have seen a great turnaround and the decision by government to continue till December 31 and we hope it will be after that also has helped big time.
Sonia: I was going through your export numbers, there is a 60 percent growth that you have seen in your exports year on year this time. Can you tell us what the average run rate could be going forward in exports and how much of a boost are you expecting by the end of FY15?
A: Exports do not go by one-month number because one ship sails on the 30th of the month, that month's sale will be high. But this year what we are targeting is at least hold on to last year's number or see a margin of growth on that. So, we are not very bullish on the export front this year. The exports markets economies are not turning around. They are not doing really well. So this one month I couldn't take as an aberration.
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