Suzuki Sales September 2024 – Squeezes Out 1.22 percent Growth
Suzuki Motorcycle India reports total sales of 99,185 units in September 2024. This marks a slight increase of 1.22 percent compared to the 97,994 units sold in September 2023. The growth reflects steady sales performance despite challenges in the domestic market. Year-on-Year (YoY) growth demonstrates consistent expansion, albeit at a moderate pace.
Domestic sales for September 2024 saw a decrease, reaching 77,263 units, down from 83,856 units in the previous year. This represents a decline of 7.86 percent. The drop in domestic sales highlights ongoing market fluctuations, yet domestic sales contributed 77.90 percent of total sales in September 2024. These numbers indicate Suzuki’s substantial domestic market share despite the slight contraction.
April to September: Suzuki Grows by 71,962 Units in Domestic Sales
Conversely, export sales improved in September 2024, recording 21,922 units. A 55.06 percent increase from the 14,138 units sold in September 2023. The significant boost in export sales points to Suzuki’s expanding presence in international markets. Exports accounted for 22.10 percent of the total sales for September 2024, marking a slight shift in the company’s sales distribution strategy.
For the period from April to September 2024, Suzuki recorded domestic sales of 5,16,530 units. An increase of 71,962 units compared to the same period in 2023. Rise in domestic sales reflects Suzuki’s sustained efforts to maintain a stronghold in the Indian two-wheeler market.
Exports Fall by 22,037 Units in First Half of 2024
Export sales for the same period dropped, with 1,03,345 units sold between April and September 2024, down from 1,25,382 units in 2023. The decrease of 22,037 units signals a contraction in certain international markets, possibly due to varying global economic conditions. Despite this, Suzuki’s total sales for the April-September period reached 6,19,875 units. Reflecting 8.76 percent growth compared to the previous year’s 5,69,950 units.
Comparing sales month-on-month (MoM), Suzuki saw a decline from August 2024, when it sold 1,04,800 units in total. The 99,185 units sold in September 2024 marked a decrease of 5,615 units, equating to a 5.36 percent reduction. The month-on-month dip suggests short-term market volatility but remains within a manageable range.
Q3 Domestic Demand Up 7.34 percent: Suzuki Keeps Rolling
In terms of quarterly performance, domestic sales for Q3 2024 reached 2,65,345 units, showing a 7.34 percent growth from Q3 2023. This increase of 18,135 units highlights Suzuki’s consistent demand within the Indian market. However, export sales for Q3 2024 fell by 10.66 percent compared to the same quarter in 2023, with 55,354 units sold. Down from 61,956 units.
Total sales for Q3 2024 amounted to 3,20,699 units, an increase of 11,533 units from Q3 2023. This modest growth reflects Suzuki’s ability to adapt to market changes while maintaining a balanced sales approach. As fiscal year 2024 continues, Suzuki remains focused on strengthening both domestic and export markets through strategic adjustments.
Q3 Totals Climb 11,533 Units: Suzuki’s Balanced Growth Continues
Suzuki’s ongoing sales strategy, which emphasises export growth, appears to be paying off, with significant improvements in the global market. Meanwhile, domestic sales remain a critical area of focus as Suzuki navigates a competitive and fluctuating Indian market environment. The overall sales performance in Q3 2024 suggests a measured but consistent trajectory of growth for Suzuki Motorcycle India.
Devashish Handa, Executive Vice President – Sales, Marketing and After Sales, Suzuki Motorcycle India Pvt. Ltd. said, “The first half of the current fiscal year has been very encouraging for us. Strong customer demand has translated into growth of 16% in the domestic market. As we enter the second half of the year, coupled with the festive season, we remain optimistic and are fully prepared to meet evolving needs of customers.”
Source: Bike - rushlane.com
