Bajaj Auto Domestic Sales Drop Nearly 23% In July, Shares Fall

Bajaj Auto's sales of two-wheelers stood at 1,52,474 units in July, marking a drop of 10.82 per cent compared to the corresponding period a year ago.

Bajaj Auto Domestic Sales Drop Nearly 23% In July, Shares Fall

Bajaj Auto's sales of two-wheelers declined 81.15% in the domestic market

Bajaj Auto on Monday reported total sales of 1,58,976 two-wheelers and commercial vehicles in the domestic market last month. That was 22.63 per cent lower compared to sales of 2,05,470 vehicles in the corresponding period last year. Shares in Pune-based Bajaj Auto fell as much as 3.11 per cent to Rs 2,911 apiece on the BSE during the day, having started the session nearly unchanged at Rs 3,006 compared to their previous close of Rs 3,006. (Track Bajaj Auto Share Price Here)

In a regulatory filing on Monday morning, Bajaj Auto said its sales in the two-wheeler segment were at 1,52,474 units in July, down 10.82 per cent compared to the year-ago period.

Bajaj Auto said it sold 6,502 commercial vehicles in the domestic market last month, down 81.15 per cent compared to July 2019.

Total exports of two-wheelers and commercial vehicles declined 44.99 per cent to 96,856 vehicles in July compared to the year-ago period.  

In the first four months of current financial year (April-July), total sales - including two-wheelers and commercial vehicles - stood at 3,50,239 units, marking a decline of 61.20 per cent compared to the year-ago period.

Total sales in the four-month period - including the domestic market and exports - declined 57.09 per cent to 6,98,935 vehicles, according to the company.   

The Bajaj Auto stock ended lower by Rs 87.40 - or 2.91 per cent - at Rs 2,917 apiece on the bourse after the announcement, underperforming the benchmark S&P BSE Sensex index which fell 1.77 per cent, extending losses to a fourth straight session amid a selloff in banking and financial services shares.