Home turf turns bumpier for Bajaj Auto, November sales volume drops 10%

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#Auto sales, Bajaj Auto, #Buzzing Stocks

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Bajaj Auto reported a 10 percent fall in sales volume to 3,79,276 units in November as against 4,22,240 units a year back.

Domestic sales declined 20 percent to 1,58,755 units, while exports, which make up for more than half of the company’s sales, were down marginally by 1 percent at 2,20,521 units.

Commercial vehicle sales on the home turf rose 29 percent during the month to 13,802 units, while exports recorded a 2 percent uptick at 27,001 units from 26,510 units last November.

Two-wheeler sales declined 23 percent on-year to 1,44,953 units in India and shipments dropped 2 percent to 1,93,520 units as against 1,96,797 units in the year-ago period.

Also read: Bajaj Auto may set up first electric vehicle plant in Akurdi

Overall, two-wheeler sales fell 12 percent, but commercial vehicle volumes rose 10 percent.

On November 15, a senior official at the company had told Moneycontrol that the automaker lost half of its planned production during the July-September quarter due to the semiconductor shortage. He, however, added that it did not affect sales majorly.

Also read: Car buyers cancel bookings as auto companies delay Diwali deadline

Demand for two-wheelers across most segments remained subdued over the last several months with festive days, too, seeing poor offtake. The April-September period witnessed 9 percent growth in wholesale volumes of two-wheelers, according to data supplied by the Society of Indian Automobile Manufacturers (SIAM).

However, the data is not strictly comparable since there was a lockdown during that period last year.

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