Bajaj Auto Sales Report For June 2023 Witnesses Major Decline in Exports

Bajaj Auto, a leading automotive manufacturer, witnessed positive growth in the domestic sales of both two-wheelers & commercial vehicles (CV) while facing a significant decline in exports.

In June 2023, Bajaj Auto Limited reported a negative growth of 2% in total sales, combining two-wheelers & CVs in domestic markets & exports. The sales figures dropped to 340,981 units from 347,004 units sold in June 2022. Furthermore, there was a month-over-month (MoM) de-growth compared to the total sales of 355,148 units in May 2023.

Specifically, Bajaj Auto experienced a 7% year-over-year (YoY) decline in two-wheeler sales (domestic + exports) in June 2023. The sales figures decreased to 293,649 units, down from 315,948 units sold in June 2022. However, the performance in domestic markets was promising, showcasing a remarkable YoY growth of 33%, with 166,292 units sold in June 2023, compared to 125,083 units sold in June 2022.
 

Bajaj Auto 2W sales & exports June 2023

However, there was a significant decline of 33% in exports, with 127,357 units shipped in June 2023, compared to 190,865 units in June 2022. As a result, the total sales in this segment experienced a 7% decrease, reaching 293,649 units in June 2023, down from 315,948 units sold in June 2022.

Domestic sales in the commercial vehicle (CV) segment demonstrated remarkable growth of 154%. Sales stood at 33,691 units in the past month, a substantial increase from the 13,268 units sold in June 2022. However, exports experienced a decline of 23%, with 13,641 units shipped in June 2023, compared to 17,788 units in June 2022. Overall, total CV sales witnessed a significant percentage YoY growth of 52%, totalling 47,332 units in June 2023, compared to 31,056 units sold in June 2022. Combining both two-wheelers & CVs (domestic + exports), the total sales in June 2023 amounted to 340,981 units, reflecting a 2% YoY de-growth from the 347,004 units sold in June 2022.
 

Bajaj Auto YTD sales & exports April-June 2023

In terms of Year to Date (YTD) performance, domestic markets witnessed a substantial growth of 73% in two-wheeler sales. The sales reached 5,42,931 units in the YTD FY2023 period, compared to 3,14,418 units in FY2022. However, Bajaj Auto experienced a decrease in demand for the Bajaj Chetak electric scooter in June 2023, as the Government of India reduced FAME II subsidies from 40% to 15%.

On the export front, there was a significant decline of 35% in YTD FY2023, with sales amounting to 3,46,399 units, down from 5,32,740 units in the same period last year. Despite this, increased domestic sales led to a 5% improvement in the total YTD sales for the segment, reaching 8,89,330 units.

Both domestic sales & exports demonstrated growth in the commercial vehicle (CV) segment. YTD FY2023 saw a remarkable 60% increase in CV sales & exports, totalling 1,38,077 units, compared to 86,488 units sold in the FY2022 period. Domestic sales experienced a significant YoY growth of 157%, with 98,625 units sold, compared to 38,418 units in the previous year. However, exports witnessed an 18% decline, with 39,452 units shipped in YTD FY2023, down from 48,070 units in the same period last year. Overall, Bajaj Auto's domestic (6,41,556 units) & export (3,85,851 units) sales for two-wheelers & CVs (2W + CV) grew by 10%, reaching 10,27,407 units in the April-June 2023 period, compared to 9,33,646 units sold in the same period of 2022.

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