Maruti Suzuki posts record Q2 sales of 6,96,654 units on 27 October, with about 2 lakh bookings still pending

Maruti Suzuki published its Q2 and H1 FY 2026-27 results on 27 October 2026. The volume line is the one that matters for anyone sitting on a booking. The company sold 6,96,654 units in the July to September quarter, its highest ever for a quarter, up 26.5 per cent on the same quarter last year. Domestic market share went up by 2.2 percentage points to 40.8 per cent.

The money side was weaker. Net sales for the quarter came in at ₹5,06,155 million against ₹4,01,358 million a year earlier, while net profit fell to ₹24,149 million from ₹33,028 million. The company pointed to commodity cost increases linked to the West-Asia conflict and to mark-to-market losses on investments. For the half year, sales were 11,46,523 units in India and 2,32,855 exports, 13,79,378 in all.

Small cars grew, SUVs grew faster

Within the quarter, small car sales rose 35.9 per cent and SUV sales rose 68.2 per cent. That split is worth holding on to. The small car recovery after the GST rate cut is real, but the SUV line is where the growth rate sits, helped by new metal in showrooms.

Exports slipped slightly, to 1,08,119 units in the quarter from 1,10,487 a year earlier, which the company put down to the geopolitical situation. Cumulative exports of the made-in-India Jimny 5-door, Fronx and e Vitara to Japan have now crossed 1,00,000 units.

Supply is still the problem, and that is a buyer's problem

Here is the sentence Indian buyers should read twice. Maruti said network inventory at the end of the quarter was around 17 days, and pending bookings stood at about 2,00,000 units. Seventeen days of stock is thin for a company of this size. In practice it means less discounting, fewer ready-to-deliver cars in the colour and variant you want, and waiting periods that depend on which plant and line your model is built at.

Capacity is being added, just not fast enough to clear that order book overnight. Maruti started commercial production at its second plant at Kharkhoda in Haryana on 18 May 2026, with 2.5 lakh units a year of capacity. That took Kharkhoda to 5 lakh units a year and the company's overall capacity across Gurugram, Manesar, Kharkhoda and Hansalpur to 26.5 lakh units a year. Kharkhoda currently builds the Brezza and the Victoris, and the site is eventually planned for 10 lakh units a year.

What it means in India

If you are booking a Maruti SUV now, plan for a wait rather than a deal. With 17 days of stock and a 2 lakh unit backlog, dealer-level discounts on the fast-moving SUVs are unlikely to improve before the new Kharkhoda and Hansalpur lines ramp up fully. Buyers of slower-selling variants and the older small cars will still find room to negotiate, because the shortage is not uniform across the range.

The wider read is that capacity, not demand, is now the binding constraint for India's biggest carmaker. Rivals are adding lines at the same time. Hyundai inaugurated its Pune plant at Talegaon on 14 October 2026 with an installed capacity of 1,70,000 units a year, going to 3,20,000 units by 2030, and the new Venue is built there for India and for export to over 35 countries. The next two to three quarters will show whether all this new capacity turns into shorter waiting periods or into heavier discounting.

The board also approved setting up the Osamu Suzuki Centre of Excellence, a Section 8 company meant to spread Japanese manufacturing practice and vocational training as a CSR initiative. No vehicle launch dates were announced with the results.

Sources