Maruti’s September wobble: Dzire saves face, but cracks are showing

The hard numbers — and the one bright spot

September wasn’t kind to Maruti. Overall sales dropped 8.38% YoY , and market share slipped from 40.4% last September to 35.1% this year. That’s a noticeable hit for a company that’s used to dominating the roads.

The one bright light? The Dzire. It jumped a whopping 80% YoY. Only three models — the Dzire, WagonR, and S‑Presso — showed real growth. Then there are the painful drops. Ertiga and Brezza faced double‑digit declines.

A notable addition: the new Maruti Victoris clocked 4k+ sales right away, powered by over 25k+ bookings and a 10‑week waiting list. That kind of demand could be a lifesaver. Maruti seems to be banking on hybrids and EVs lined up for 2026; that move might be the reset they need if they can pull it off.

What this all means — and why you should care

Here’s my take: Maruti’s reliance on a few hits — notably the Dzire and new Victoris — has patched a leaking boat for now, but it doesn’t fix the bigger holes. Falling sales across several core models and a slipping market share suggest consumer tastes are shifting, or competition is getting sharper. Waiting lists for Victoris show demand is still there, but it's concentrated.

For investors, the market’s jitters around corporate governance (looking at BLS and Reliance Power) and structural moves like Tata Motors’ demerger could mean more volatility ahead. For buyers, it could mean longer waits for hot models and potentially better deals on others.

Bottom line: Maruti’s not out of the woods — the Victoris and Dzire might buy time, but the company could need its 2026 EV/hybrid push to really steady the ship.