Maruti Suzuki's strong performance in the SUV segment is a key driver of its overall growth, offsetting declines in other segments, Citi said.

Indias largest carmaker Maruti Suzuki sold a total of 141,312 new cars in November 2024 as year-over-year sales rose by 5.33 per cent thanks to a growing interest in its premium offerings and an uptick in exports.

Shares of Maruti Suzuki India surged over 2 percent to Rs 11,325 in morning trade on December 2 after the company reported a 10 percent on-year increase in total sales to 1,81,531 units in November 2024, up from 1,64,439 units in the same month last year.

Maruti Suzuki India Limited reported total sales of 181,531 units in November 2024. This includes 144,238 units sold in the domestic market, 8,660 units supplied to other OEMs, and 28,633 units exported.

Shares of Maruti Suzuki (India), Mahindra & Mahindra (M&M) and TVS Motor Company gained on Monday as the automakers disclosed their monthly sales data for November 2024.

Major automakers in India saw a mix of growth and decline in November 2024. Maruti Suzuki and MG Motor India experienced notable sales increases, driven by SUVs and NEVs. Meanwhile, Hyundai faced a 7% drop in total sales,