Bajaj Auto August sales drop 15% YoY to 3.41 lakh units dragged by weak two-wheeler dispatches
Bajaj Auto Ltd, the two and three-wheeler manufacturer, on Friday reported a 15% year-on-year (YoY) fall in its total sales for the month of August 2023. The company’s total vehicle sales in August 2023 declined to 3,41,648 units from 4,01,595 units in the same month last year. Total domestic sales during the month declined 20% to 2,05,100 units from 2,56,755 units, while exports fell 6% to 1,36,548 units from 1,44,840 units, YoY.
Bajaj Auto sold a total of 2,85,031 two-wheeler vehicles in August 2023, a sharp drop of 20% from 3,55,625 units sold in August 2022. The fall in two-wheeler sales was led by the domestic market, as domestic two-wheeler sales declined 31% YoY. Exports of two-wheelers rose 2%.
The commercial vehicle (CV) segment performed better during the month. CV sales increased 23% to 56,617 units from 45,970 units, YoY. This was led by domestic CV sales as it jumped 93% YoY to 44,280 units.
CV exports declined 46% YoY to 12,337 units. Bajaj Auto share price has rallied more than 29% this year so far. However, Bajaj Auto shares have remained flat since the last three months.
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