a group of people standing around a motorcycle: Bajaj Auto records 10% jump in sales in Sept; exports rise 14% to highest ever at 2.12 lakh units

© India Today Group
Bajaj Auto records 10% jump in sales in Sept; exports rise 14% to highest ever at 2.12 lakh units

Bajaj Auto has reported a 10 per cent rise in sales in September, selling as many as 4.41 units compared to 4.02 lakh units in September 2019. The exports accounted for 2.12 lakh units in September as against 1.86 lakh units in September 2019, recording a 14 per cent rise. The domestic sales rose 6 per cent to 2.28 lakh units compared to 2.15 lakh units during the same period last year.

The sale numbers reflect a major turnaround in the two-wheeler industry after the COVID-19 pandemic left the industry high and dry, forcing auto companies to cut costs and jobs amid poor sales.

Bajaj Auto’s total sales stood at 356,199 in August, compared to 390,026 units in the same month last year. The Pune-based company reported a 33 per cent YoY decline in sales in July, selling as many as 381,530 units compared to 2,55,832 units in July 2019. In June, it reported a 31 per cent decline in auto sales as the industry moved towards a slow recovery after lockdowns.

Bajaj Auto CFO Soumen Ray had recently said the company is witnessing a strong revival in demand for two-wheelers in both domestic and international markets, but the three-wheeler segment is yet to pick up.

The negative sales in the first quarter have led to poor quarterly figures in Q2 as well. On the quarterly basis, the company saw a 35 per cent decline YoY in domestic sales of two-wheelers at 7.36 lakh units. Exports of two-wheelers declined 33 per cent YoY to 6.28 units in the September quarter.

In the commercial vehicle category, domestic vehicles saw 85 per cent YoY dip to 28,674 units, while exports plunged 35 per cent YoY to 103,373. Overall, the domestic sales declined 42 per cent YoY to 7.64 units and exports declined 33 per cent to 7.31 lakh units in the July-September quarter.

Bajaj Auto had reported a 53 per cent fall in profit at Rs 528 crore in April-June quarter of FY21 against Rs 1,125.67 crore in the corresponding period of last fiscal. Total revenue from operations stood at Rs 3,079.24 crore in Q1 as against Rs 7,755.82 crore in the same period last year.

Source Article