Bajaj Auto sales down 11% to 2,72,197 units; shares fall

Bajaj Auto sold 11% less vehicles in the month of March this year compared to the same period in 2016. According to a statement from the company, it sole 2,72,197 units in March 2017.

The sale of motorcycles (domestic and exports) was down 8% while the sales of commercial vechiles (domestic and exports) was down 33%.

Domestic vehicle sales (motorcycles and commercial vehicles) were down 17% at 1,69,279 units while total exports (motorcycles and commercial vehicles) grew 1% to 1,02,918 units.

Bajaj Auto sold 2,44,235 motorcycles in March and 27,962 commercial vehicle units in the period.

The automaker's shares were down Rs 2,791.95 units, down Rs 15.55 apiece or 0.55% from previous close.

Earlier in the month, Bajaj Auto managing director and chairman Rajiv Bajaj said that the automaker was one of the first in the country to make the complete shift BS IV compliant vehicles. He was also against certain carmaker seeking an extension in the deadline to make the switch to BS IV vehicles.

The Supreme Court upheld its order on the ban on the sale and registration of BS III vehicles after the March 31, 2017 deadline. Hereon, all the vehicles sold should adhere to the stringent BS IV norms, a move that triggered massive discounts on motorcycles and other two-wheelers.

Bajaj Auto Limited