Bajaj Auto Sales Down 10% In February

Automobile major Bajaj Auto on Monday posted a 10 per cent decline in its sales for February, as compared to the corresponding month, a year ago, the company said in a regulatory filing with the BSE. In the two-wheelers section, which constitutes the bulk of the company's sales, Bajaj witnessed a 21 per cent dip in domestic sales on a year-on-year (YoY) basis, according to the filing. As compared to 35,183 units of two-wheelers the company sold in February last year, only 21,871 units were sold this year in the local markets.

The two-wheeler exports however, saw a 15 per cent spike in February.

On the other hand, in the commercial vehicle section, both domestic sales and exports suffered a setback in the number of vehicles sold, witnessing a 38 per cent and 24 per cent dip, respectively, the filing stated.

Overall, the company sold 3,54,913 units in February 2020, as compared to 3,93,089 units same month last year.

On a sequential basis too, the company's sales came down by 10 per cent, as compared to last month i.e. January 2020.

The filing also stated that in this fiscal year so far (April 2019 - February 2020), the company's overall sales have come down by 5 per cent to 43.72 lakh units, compared to 46.26 lakh units in the year-ago period.

The auto major's stock lost more than 3 per cent on the BSE during the day's trading, closing at Rs 92.75. The broader market meanwhile, closed about half a per cent in the red.

Bajaj Auto manufactures of motorcycles, three-wheelers and parts.