Bajaj Auto logs 16% Y-o-Y boost in Dec sales on high domestic demand

December auto sales: Bajaj Auto set its foot in 2024, recording a 16 per cent overall boost in its year-on-year (Y-o-Y) sales in December 2023, selling 326,806 units, the company said in a BSE filing on Monday.

The automaker said that it recorded a 26 per cent jump in two-wheeler (2Ws) domestic sales (Y-o-Y) in December at 158,370 units from 125,553 in December 2022. It also lodged a slight increase of 3 per cent in its two-wheeler exports at 124,631 units, up from 121,499 units in December 2022.

In the domestic commercial vehicles sales, the firm recorded a sharp jump about 41 per cent at 32,549 in December 2023, compared to Y-o-Y, while the exports declined 2 per cent at 11,256. However, with increased domestic demand, the auto maker's overall commercial sales increased 27 per cent for the period, the company said.

The Pune-based firm also posted its overall sales in the current financial year so far, recording a 7 per cent increase between April and December in 2023, compared to the same period in 2022, the data showed. While the domestic two-wheeler sales recorded a jump of 22 per cent at 1,703,704, the exports took a considerable blow, declining 17 per cent compared to 2022. Consequently, the overall two-wheeler sales so far in FY24 increased 3 per cent at 2,811,106 when compared to the same period in the previous fiscal.

A similar pattern was also observed in the commercial vehicle sales segment for FY24, wherein the company said that its domestic, commercial sales recorded a steep jump of 76 per cent at 353,689 till December 2023. However, it noted that the exports declined 22 per cent at 117,562. Consequently, Bajaj Auto's overall commercial vehicle sales till December 2023 outperformed its two-wheeler sales by recording a 34 per cent Y-o-Y jump at 471,251 in the April-December period in FY24.

The company said that its net sales this fiscal so far jumped 7 per cent at 3,282,357 compared to 3,068,129 in the April-December 2022 period. These sales numbers are inclusive of Chetak Technology, a wholly owned subsidiary of Bajaj Auto Limited.

Bajaj Auto Limited