Maruti Suzuki Eyes Wedding Rush In November To Sustain Festive Sales Momentum

Following a record-breaking October with retail sales of 2,02,402 units, its highest-ever for the month, the company is optimistic that a surge in planned weddings will drive further sales

Maruti Suzuki's optimism comes as the festive season continues to fuel the auto industry’s recovery, with the wedding season now positioned as a potential catalyst for continued sales growth.

Source : PTI

Maruti Suzuki India, India's largest car manufacturer, is looking to November's wedding season to sustain its recent sales momentum, a company executive announced. Following a record-breaking October with retail sales of 2,02,402 units, its highest-ever for the month, the company is optimistic that a surge in planned weddings will drive further sales.

Partho Banerjee, Senior Executive Officer of Marketing and Sales at Maruti Suzuki India, shared the company’s optimism with PTI, noting that “a few lakhs marriages” are anticipated across the country in November. He expressed confidence that the wedding season will bolster retail sales, keeping the festive momentum alive.

"We believe there is a significant number of marriages scheduled in November, with almost 11 to 12 auspicious days, which is unusually high,” Banerjee explained. “We’re hopeful this will help carry forward the festive momentum into the new month."

The robust sales in October, an increase from the previous record of 1,91,476 units set in October 2020, have boosted Maruti Suzuki’s confidence in achieving 4-5 per cent growth for the fiscal year. Banerjee indicated that retail sales from April to October rose by around 4 per cent, while October alone saw a 22.4 per cent increase.

The strong performance also allowed the company to reduce network inventory, trimming stock by over 40,000 units to bring it in line with demand. “Our network stock is now at about 30 days, reflecting a more balanced supply chain,” Banerjee said.

On the topic of regional discounts, Banerjee said the company is shifting from a centralised approach, allowing local field teams to set discounts based on market-specific needs. "Each market is unique, and we need to respect the customer’s viewpoint," he noted. When questioned about a potential price hike in January, Banerjee remarked that the company’s finance team is still evaluating the situation and that it’s “too early” to comment on any decision.

Maruti Suzuki's optimism comes as the festive season continues to fuel the auto industry’s recovery, with the wedding season now positioned as a potential catalyst for continued sales growth.