Total sales for automaker Maruti Suzuki fell from 114,205 units in January 2013 to 102,416 units last month. The fall comes even as automakers try to put behind 2013, the worst year for the industry in over a decade.
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Maruti Suzuki's January sales fell 10.3 percent year-on-year to 102,416 units, on weak demand in both domestic and export markets.
Local sales for India's largest car maker fell 6.3 percent to 96,569 units while export sales nearly halved to 5,847 units from 11,179 units last year.
On the brighter side, this was a rise of 12.6 percent, compared to December 2013's sales figure of 90.924.
The year-on-year decline comes even as automakers try to put behind 2013, the worst year for the industry in over a decade, and may indicate sales are still some way off from turning around.
Segment-wise data show January sales for "mini" cars such the bestselling Alto and WagonR were off 17 percent (38,565 compared to 46,479) while the compact segment, which has cars like Swift and Ritz grew 1.9 percent, from 24,006 to 24,473.
Sales for the super compact DZire jumped a healthy 12.7 percent from 17,060 to 19.232 while the mid-size SX4 continues to struggle, notching up sales of only 191 cars, down 81 percent from 1,012 last year.
Earlier this week, the automaker posted third-quarter earnings that met analysts' estimates but surprised markets with an announcement that a plant in Gujarat it was supposed to set up would now be developed by a unit entirely owned by its parent company Suzuki.
The announcement sparked an initial selloff in the stock on concerns this may eat into Maruti's margins, apart from leading questions over corporate governance issues.
Also read: Maruti Q3 beats forecast, net up 1.6%; to expand in Gujarat
Maruti Suzuki stock price
On January 31, 2014, Maruti Suzuki India closed at Rs 1635.35, down Rs 2.65, or 0.16 percent. The 52-week high of the share was Rs 1864.00 and the 52-week low was Rs 1217.00.
The company's trailing 12-month (TTM) EPS was at Rs 106.68 per share as per the quarter ended December 2013. The stock's price-to-earnings (P/E) ratio was 15.33. The latest book value of the company is Rs 615.03 per share. At current value, the price-to-book value of the company is 2.66.
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