Maruti Suzuki has announced a price reduction for two of its popular models, the S-Presso LXI Petrol and the Alto K10 VXI Petrol, as a response to growing inventory challenges in the automotive industry.
Starting today, the S-Presso LXI Petrol, which was previously priced at Rs 5.01 lakh (ex-showroom), will now cost Rs 2,000 less. Similarly, the Alto K10 VXI Petrol has seen a price drop of Rs 6,500.
In August 2024, Maruti Suzuki reported a 3.9% decline in total vehicle sales, with 181,782 units sold compared to 189,082 units in the same month the previous year. The company's sales for August included 145,570 units sold within the domestic market and 26,003 units exported.
The overall decrease in sales is largely attributed to a notable drop in the mini and compact car segments, where sales plummeted to 68,699 units from 84,660 units in August 2023.
Maruti Suzuki has seen an increase in the dispatches of its utility vehicles, including the Grand Vitara, Brezza, Ertiga, Invicto, Fronx, and XL6. Last month, dispatches rose to 62,684 units, up from 58,746 units previously.
During a virtual press conference, Partho Banerjee, Senior Executive Officer (Marketing & Sales) at Maruti Suzuki India (MSI), revealed that the company had cut vehicle dispatches by 13,000 units in August. This adjustment has led to a reduction in inventory stock levels, which decreased from 38 days at the start of August to 36 days. Banerjee emphasized that the company's strategy is to ensure channel partners maintain a healthy stock level for vehicle sales. "We are focused on managing inventory effectively to ensure our partners have sufficient stock to meet demand," he said.
Looking ahead to the festive season, Banerjee indicated that the company aims to keep dealer stock levels around 36 days.
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