Bajaj Auto two wheeler sales continue to decline in Aug 2023 – Down by 31%
Bajaj Auto, one of India’s leading two-wheeler and commercial vehicle manufacturers, has released its sales performance report for August 2023. The company’s performance reflects a mixed bag of results across different segments, showcasing both triumphs and challenges in a dynamic market.
Aug 2023 Bajaj Auto Two-Wheeler Sales: A Mixed Picture
The year-on-year comparison of two-wheeler sales for August 2023 reveals a significant decline in the domestic market, with a 31.23% drop compared to August 2022. Domestic sales in August 2023 stood at 1,60,820 units, down from 2,33,838 units the previous year. However, the export market fared better, with a 1.99% growth in sales. Bajaj Auto exported 1,24,211 units in August 2023 compared to 1,21,787 units in August 2022.
Month-on-month, August 2023 showed a positive trend with a 13.26% increase in domestic sales compared to July 2023, when 1,41,990 units were sold. On the export front, there was a slight dip of 2.08% from July 2023 when 1,26,850 units were exported.
Aug 2023 Bajaj Auto Commercial Vehicle Segment Shines
Bajaj Auto’s commercial vehicles (CVs) segment, which includes three-wheelers and the Qute quadricycle, demonstrated remarkable growth. Year-on-year, the domestic CVs sales witnessed an impressive surge of 93.22%, with 44,280 units sold in August 2023 compared to 22,917 units in the same month of the previous year. Conversely, exports in this segment declined by 46.48%, with 12,337 units exported in August 2023, down from 23,053 units in August 2022.
Total Bajaj Auto Sales Aug 2023
Combining the two-wheeler and commercial vehicle segments, Bajaj Auto’s total sales for August 2023 showed a year-on-year decline of 14.93%. In August 2023, a total of 3,41,648 units were sold, compared to 4,01,595 units in August 2022.
Bajaj Auto Fiscal Year-to-Date Performance
Looking at the fiscal year-to-date performance, Bajaj Auto’s two-wheeler sales witnessed an 18.68% growth in the domestic market but faced a 25.80% drop in exports compared to the same period last year. In the commercial vehicle segment, the company achieved an astounding 125.48% growth in domestic sales but saw a 29.02% decrease in exports. This robust domestic growth in CVs significantly contributed to the company’s overall performance.
When combining both two-wheelers and commercial vehicles, Bajaj Auto reported a substantial 29.45% growth in domestic sales and a 26.13% decrease in exports during the fiscal year to date. Bajaj Auto’s two-wheeler range boasts an array of motorcycles, including Pulsar, Dominar, CT, Platina, and Avenger, as well as the Chetak electric scooter in the domestic market. In the export market, they offer a diverse lineup comprising Boxer, Pulsar, CT, Discover, Dominar, Platina, and Avenger motorcycles.
Despite the challenges posed by various market factors, Bajaj Auto continues to be a dominant player in the Indian automotive industry. The company’s diversified product range and focus on domestic sales in the commercial vehicle segment appear to be key factors in its resilience and growth. Bajaj Auto remains committed to delivering quality vehicles to its customers, and industry watchers will be closely monitoring its performance as the fiscal year progresses.
Source: Bike - rushlane.com
