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31-Oct-2025

Maruti Suzuki India

GST reforms trigger strong sales, particularly for small cars


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Maruti Suzuki hosted a conference call on Oct 31, 2025. In the conference call, the company was represented by Mr Arnab Roy-CFO.

Key takeaways of the call

Management indicated high level of consumer activity in the company’s showrooms due to the recent GST reforms.

In Q2 FY26, domestic wholesales declined 5.1% YoY to 440,387 units due to customers deferring buying because of expectation of GST led price reduction from 22 September 2025.

Starting 22 Sept 2025, retail sales took off steeply. Particularly small and compact cars witnessed strong sales during festive season. On Sequential basis, sales grew 9% in Q2 FY26.

The company recorded almost 5 lakh bookings during the festive period (22 Sept–31 Oct 2025), compared to 3.5 lakh in the same period last year, reflecting strong demand.

In the month of Oct 2025, retail sales grew abo...



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