September 1st 2023.
Bajaj Auto, one of India's leading auto makers, announced through an exchange filing that their total sales in August 2023 had dropped by 15% to 3,41,648 units, compared to 4,01,595 units sold in the same month last year.
Domestic sales saw the biggest hit, dropping by 20% to 2,05,100 units. This decrease was mainly due to the 31% drop in 2-wheelers sales to 1,60,820 units, compared to 2,33,838 units sold in August 2022. On the other hand, sales of commercial vehicles had a 93% increase to 44,280 units, compared to 22,917 units sold in the same month last year.
Exports also saw a 6% decrease with Bajaj Auto exporting 1,36,548 units in August 2023, compared to 1,44,840 units in the same month last year. 2-wheelers exports increased by 2%, while commercial vehicles exports fell by 46%.
Between April and August, Bajaj Auto's total sales remained flat at 16,88,802 units. Domestic sales of 2-wheelers increased by 19%, while exports dropped by 26%. Commercial vehicle sales grew by 125% in the domestic market, while exports fell by 29%. Escorts Kubota Tractor Sales also saw a decline of 8.5%.
In total, the company sold 10,25,919 units in the domestic market in the April-August 2023 quarter, which is 29% higher than 7,92,547 units sold in the same period last year. Exports slipped by 26%, with 6,62,883 units exported in the April-August 2023 quarter, against 8,97,364 units exported in the same period in 2022.
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