Bajaj Auto reports 2% y-o-y decline in June sales; stock slips ~2%

3 Jul 2023 , 01:23 PM

Bajaj Auto, the two- and three-wheeler manufacturer, reported a 2% year-on-year drop in total sales volume for the month of June 2023, primarily due to lower exports. In June of this year, the company sold 3,40,981 vehicles, compared to 3,47,004 units sold in the previous corresponding month.

The company’s monthly sales were lower than Nomura’s estimate of 3.49 lakh units.

Bajaj Auto reported a growth of 45% in its domestic sales for the month to 1,99,983 units, compared to 1,38,351 units in June 2022. However, the company’s exports declined 32% y-o-y to 1,40,998 units in June 2023 against 2,08,653 units in the previous corresponding period.

Company said that its sales of two-wheeler vehicles in June 2023 declined by 7% to 2,93,649 units against 3,15,948 units in June 2022. Domestic two-wheeler sales increased by 33%, while exports decreased by 33%.

The company’s sale of commercial vehicles jumped 52% y-o-y to 47,332 units compared to 31,056 units in the same month of the previous year.

The company reported sales of 33,691 commercial vehicles in the domestic market, registering a 154% y-o-y increase from the 13,268 units sold in the same month last year.

Commercial vehicle exports fell 23% year-on-year to 13,641 units from 17,788 units.

At around 1.17 PM, Bajaj Auto was trading 1.76% lower at Rs 4,609 apiece, against the previous close of Rs 4,691.55 on NSE. The counter touched an intraday high and low of Rs 4,688 and Rs 4,605, respectively.

For feedback and suggestions, write to us at [e-mail]