Moneycontrol Bureau
Two-wheeler maker Bajaj Auto sales decelerated sharply for the second consecutive month in December, impacted by the currency demonetisation.
The Pune-based auto company sold 2.25 lakh units in the month gone by, down 22 percent compared with 2.89 lakh units sold in year-ago period. Sales also fell more than 16 percent compared with previous month.
Exports dropped, too, by 27 percent to 1.05 lakh units from 1.45 lakh units while domestic sales declined 17 percent to 1.19 lakh units on yearly basis.
Bajaj Auto said motorcycle sales were down 18 percent year-on-year at 2.03 lakh units and 3-wheeler sales fell 46 percent to 22,217 units in December.
For the nine months period ended December 2016, its sales slipped 5 percent to 28.78 lakh units due to a 23 percent degrowth in exports. However, domestic sales grew by 11 percent year-to-date.
Its sales in November month were also down by 13 percent YoY.
At 09:40 hours IST, the stock was quoting at Rs 2,603.00, down Rs 30.85, or 1.17 percent on the BSE.
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