Bajaj Auto sales up 11% in July 2024

Bajaj Auto, one of India's leading two-wheeler and commercial vehicle manufacturers, has reported robust sales figures for July 2024, showcasing significant growth compared to the same period last year and maintaining momentum from the previous month.

The company's total sales for July 2024 stood at 3,54,169 units, marking an impressive 11% increase from July 2023's 3,19,747 units. This growth was primarily driven by a strong performance in the domestic market, particularly in the two-wheeler segment.

Domestic two-wheeler sales surged by 19% year-on-year, with 1,68,847 units sold in July 2024 compared to 1,41,990 units in July 2023. This substantial increase indicates a growing consumer demand for Bajaj's motorcycles and scooters in the Indian market.

The commercial vehicle segment also showed positive results, with domestic sales rising by 13% to 42,150 units in July 2024, up from 37,273 units in the same month last year. This growth suggests a recovery in the commercial vehicle market, possibly driven by increased economic activities and infrastructure development.

Exports remained relatively stable, with a marginal 1% increase in two-wheeler exports and a 6% rise in commercial vehicle exports compared to July 2023. The total export figure stood at 1,43,172 units, showing a 2% year-on-year growth.

Comparing July 2024's performance to the previous month (June 2024), Bajaj Auto maintained its strong sales momentum. While there was a slight dip in overall sales from 3,58,477 units in June to 3,54,169 units in July, the company managed to keep the decline minimal at just over 1%.

The two-wheeler segment saw a minor decrease in domestic sales from 1,77,207 units in June to 1,68,847 units in July. However, this was partially offset by a small increase in exports, from 1,26,439 units to 1,28,694 units.

Notably, the commercial vehicle segment showed growth even on a month-on-month basis, with domestic sales increasing from 39,244 units in June to 42,150 units in July, representing a 7% rise.

Year-to-date figures for the April-July 2024 period also paint a positive picture, with total sales reaching 14,56,225 units, an 8% increase over the same period in 2023. Domestic sales have grown by 10%, while exports have increased by 5% during this period.

Rakesh Sharma, Executive Director of Bajaj Auto, expressed satisfaction with the company's performance, highlighting the strong growth in both domestic and export markets. As Bajaj Auto continues to navigate the evolving automotive landscape, these results indicate a positive trajectory for the company in the current fiscal year.