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    Maruti Suzuki geared for re-rating amid rising UV sales

    Synopsis

    The share of the higher priced SUVs increased for the fifth quarter in a row in the June 2023 quarter. The company has recently launched fresh models including Fronx, Jimny and Invicto. Given the higher sticker prices of these vehicles, the ASP for the current quarter is expected to improve by 5-6% sequentially thereby improving revenue and blended margins. In the June quarter, Maruti Suzuki’s ASP rose by 14.6% year-on-year.

    ET Intelligence Group: Maruti Suzuki is back on investor radar amid rising sales of high value cars and strong order book driven by new model launches. The stock has gained 16% over the past 12 months; of this, 7% gain is achieved over the past month. Given that the country’s largest passenger car maker has been delivering better average selling price (ASP) per unit than the analysts’ estimates, it is expected to undergo an earnings upgrade. The
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    The Economic Times