Bajaj Auto Ltd. shares fell on Wednesday, January 1, after the manufacturer disclosed lower-than-expected sales statistics for December.
At around 11.52 AM, Bajaj Auto was trading 1.82% lower at ₹8,638.20 per piece, against the previous close of ₹8,798.60 on NSE. The counter touched an intraday high and low of ₹8,754.05, and ₹8,767, respectively.
The Bajaj Group underperformed expectations, with total sales falling 1% year on year to 3.23 lakh units, compared to 3.26 lakh units in the same month last year. According to street estimates, Bajaj Auto was anticipated to sell 3.55 lakh units.
Domestic sales weighed on total sales, but exports boosted them. Bajaj Auto reported 1.62 lakh domestic sales, a 15% decrease year on year, and 1.60 lakh exports, an 18% increase year on year.
In the two-wheeler market, sales fell 4% to 2.72 lakh units, compared to 2.83 lakh units. In the three-wheeler market, sales increased 16% to 50,952 units from 43,805 units.
VAHAN statistics showed a drop in domestic two-wheeler registrations in India.
Bajaj Auto’s two-wheeler registrations in December fell 14% year on year).
The company’s electric two-wheeler (E2W) segment remains robust, accounting for 25% of total market share.
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