Bajaj Auto Sales Fall 2.1% In September As Exports Continue To Drag

Bajaj Auto Ltd.’s sales dropped for the fourth straight month in September as its performance in the international markets continued to decline.

Total sales fell 2.1 percent to 3.76 lakh vehicles from 3.84 lakh in September 2015, the company said in an exchange filing.

Motorcycle sales remained sluggish, growing one percent to 3.31 lakh units. Commercial vehicle sales fell 17 percent to 44,789 units compared to 54,172 units.

Strong Domestic Demand

Sales in India grew 21 percent to 2.55 lakh vehicles from 2.1 lakh units last year. Domestic motorcycle sales grew 23 percent to 2.3 lakh units, while commercial vehicle sales increased 10 percent to 25,090 units.

Exports Drag

Exports continued to remain a key laggard slumping 30 percent to 1.21 lakh units. While motorcycle exports fell 29 percent to 1.01 lakh units, commercial vehicle exports fell 37 percent to 19,699 units.

Shares of Bajaj Auto rose 2.4 percent to Rs 2,898 per share as of 10:15 a.m.