Bajaj Auto Sales Rise For First Time In Six Months In August On Strong CV Growth
Bajaj Auto Ltd.’s exports and commercial vehicles segment drove sales higher in August, after five months of continuous decline even as domestic two-wheeler sales continue to lag.
The two-wheeler manufacturer sold nearly 3.4 lakh units during the month, 3 percent higher than same period year ago. The turnaround was driven by its commercial vehicles segment, which grew at 13 percent to 51,170 units. The domestic sales for commercial vehicles rose 13 percent to 28,995 units, exports grew 12 percent for the segment.
Bajaj Auto’s exports also bucked a three-month declining spree, as it grew 7 percent to 1.34 lakh units, year-on-year. Total motorcycles sales grew 1 percent in August with domestic sales falling 2 percent to 1.71 lakh units.
Shares of the Pune-based auto maker rose 1.8 percent to Rs 2,858 apiece with trading volume at 4.9 times its 30-day average on the National Stock Exchange.