Bajaj Auto reported a sharp, 31% decline in its domestic two wheeler sales for August, even as exports remained flat.
Domestic two wheeler sales fell to 1.61 lakh units in August 2023 from 2.34 lakh units in August last year, leading to a net decline of 20% in the company’s overall two-wheeler sales for the month including exports.
Overall two-wheeler sales declined to 2.85 lakh units in August this year from 3.56 lakh in the same month last year.
It would have fallen more, if not for the relatively stable export performance. Exports of two-wheelers for the month of August came in at 1.24 lakh units, up from 1.21 lakh units in August last year.
3-Wheelers
The company had better luck in three-wheelers, with overall numbers up 23% at 56,617 from 45,970 in August last year.
However, here the picture was the opposite of the domestic market condition, with exports doing poorly and domestic sales of three-wheelers nearly doubling to 44,280 from 22,917 units during August last year.
Exports of three-wheelers were down 46% to 12,337 units in August, the company said.
Overall, total vehicle sales – including two-wheelers, three-wheelers and exports – were down 15% at 3.42 lakh in August, compared to 4.02 lakh in the same month last year.
Despite the disappointing performance on the two-wheeler front, Bajaj Auto’s total sales of two-wheelers in the domestic market during this financial year so far is up 19% at 8.46 lakh units compared to 7.13 lakh units during the same period last year. Exports, however, are down 26%.
Overall vehicle sales, including exports and three-wheelers, so far this year are flat at 16.89 lakh compared to 16.90 lakh last year.