Bajaj Auto Posts 11% Dip In February Overall Sales Due to Exports Decline

Bajaj Auto Limited reported an 11 per cent YoY decrease in sales in February 2023. Even though domestic sales of both two-wheelers and commercial vehicles ended on a positive note, there was significant de-growth in two-wheeler and CV exports, which had a negative impact on total sales. Bajaj Auto's total sales (2W+CV) fell 11 per cent in February 2023 to 2,80,226 units. This compares to 3,16,020 units sold in February 2022. Domestic two-wheeler sales increased by 25 per cent to 1,20,335 units in February 2023, up from 96,523 units in February 2022. Recently, Bajaj Auto relaunched the Pulsar 220F in India for Rs 1,39,686 (ex-showroom). The bike was discontinued in April 2022, but it has been reintroduced due to popular demand.

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Exports, however, ended in the red, falling by 37 per cent from the 1,82,814 units shipped in February 2022. In February 2023, 2,35,356 units were sold overall in the 2W segment, a 16 per cent YoY decrease from the 2,79,337 units sold in February 2022. Bajaj Auto's best-selling two-wheelers include the Pulsar, the Platina, the Dominar, the CT, the Avenger, and the Chetak electric scooter, among others. In domestic markets, sales of commercial vehicles (CV) increased by 103 per cent last month to 32,956 units, a significant increase from the 16,224 units sold in February 2022. On the other hand, from 20,459 units shipped in February 2022 to 11,914 units in February 2023, exports decreased by 42 per cent YoY. Since 36,683 units were sold in February 2022, the total sales (domestic + exports) for the CV segment increased by 22 per cent YoY to 44,870 units.

In February 2023, total YoY sales (2W+CV) in domestic markets increased by 36 per cent to 1,53,291 units, while exports decreased by 38 per cent to 1,26,935 units. In February 2022, exports totalled 2,03,273 units. When compared to the total sales of 2,85,995 units sold in January 2023, it was also an MoM de-growth.

Sales of Bajaj Auto decreased by 9 per cent to 36,36,290 units from 40,11,245 units sold from April to February 2022 when the entire year is taken into account. Domestic sales (2W and CV) experienced a de-growth of 11 per cent, falling from 35,80,532 units sold in April–February 2022 to 31,95,837 units. From 15,34,003 units sold in the same period of 2022, two-wheeler sales in domestic markets increased by 8 per cent to 16,53,596 units in the 2023 period. However, compared to the 20,46,529 units sold during the same period in 2022, exports decreased by 25 per cent, to 15,42,241 units, between April and February of 2023.

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Additionally, CV sales increased in domestic markets by 89 per cent, from 1,41,052 units in 2022 to 2,66,499 units in 2023, while exports decreased by 40 per cent, from 2,89,661 units to 1,73,954 units sold in the same period last year. However, overall CV sales increased by 2 per cent from April to February 2022 to April to February 2023, reaching 4,40,453 units. As a result, total YTD (2W+CV) domestic sales increased by 15 per cent to 19,20,095 units, while exports decreased by 27 per cent to 17,16,195 units from 23,36,190 units sold from April to February of 2022.