Bajaj Auto Feb sales fall 11% YoY, dragged down by slump in exports

Bajaj Auto's domestic sales of 2Ws in February saw a 25 percent jump year on year.

Bajaj Auto climbed 1.86 percent on March 1, even as its February sales figures showed a fall of 11 percent year on year (YoY). This was largely led by a fall in exports since domestic sales recorded a healthy growth over the same period.

The stock was trading at Rs 3,729 at 2 pm on March 1.

It recorded a total sales of 2,80,226 units in February 2023, while it had clocked 3,16,020 a year ago. Total exports of two-wheelers (2Ws) and commercial vehicles (CVs) have fallen by 38 percent YoY to 1,26,935 units from 2,03,273 a year ago. Total domestic sales have gone up by 36 percent to 1,53,291 this February from 1,12, 747 a year ago.

The sharpest fall was seen in its exports of commercial vehicles, which has fallen by 42 percent YoY. It sold 11,914 units under this vertical this February compared to 20,459 a year ago. Domestic sales of CVs shot up by 103 percent to 32,956 units from 16,224 units a year ago. Overall, volumes in CVs went up by 22 percent to 44,870 units from 36,683 units a year ago.

Exports of two-wheelers tumbled by 37 percent YoY to 1,15,021 from 1,82,814 units a year ago. Domestic sales of 2Ws went up by 25 percent to 1,20,335 from 96,523 units a year ago. Overall, volumes in 2Ws dropped by 16 percent to 2,35,356 this February from 2,79,337 a year ago.

The company had announced the launch of its two electric two-wheeler models through the mobility-tech platform Yulu on February 27. Powered by Yulu’s revolutionary AI-led technology stack and exclusively manufactured by Bajaj Auto, the Miracle GR & DeX GR are made in India, for the world, and are being rolled out by Chetak Technology Ltd (a 100 percent owned subsidiary of Bajaj Auto), said the press statement.