Bajaj Auto May sales up 1%, domestic growth misses estimates

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Moneycontrol Bureau

Maharashtra-based two-wheeler maker Bajaj Auto has sold 3.47 lakh units in May that registered a growth of only 1 percent over 3.45 lakh units sold in year-ago period. Lower-than-expected growth in motorcycles & domestic business and weak exports hit overall sales.

The company said motorcycle sales increased 2 percent year-on-year to 3.07 lakh units while commercial vehicles (3-wheeler) sales declined 7 percent to 40,311 units in month gone by.

Domestic business has registered a 9.4 percent growth at 2.04 lakh units while exports fell 10 percent to 1.43 lakh units in May.

Nomura had estimated overall sales growth at 6.5 percent, of which motorcycles sales at 7.7 percent and domestic at 24.9 percent while 3-wheeler sales were likely to fall 1.3 percent and exports 15 percent in May compared to year-ago period.S Ravikumar, President - Business Development, Bajaj Auto says the market share of company will be maintained at 20 percent levels but June and July, which are softer months, will see lower sales both in domestic market and exports.

At 10:11 hours IST, the scrip of Bajaj Auto was quoting at Rs 2,570.60, down Rs 32.10, or 1.23 percent on BSE.