Bajaj Auto November Sales Fall 13%; Exports Drop For 14th Month
Bajaj Auto Ltd.’s sales dropped 13 percent in the month of November hit by the unprecedented cash crunch in the country after the demonetisation of high value banknotes. This after the Pune-based two-wheeler maker snapped four-month de-growth trend in October.
Total sales fell 13 percent to 2,69,948 vehicles from 3,09,673 vehicles in November 2015, the company said in an exchange filing.
Motorcycle sales fell 12 percent to 2,37,757 vehicles compared to 2,70,886 vehicles in the year ago period, while commercial vehicle sales too fell 17 percent to 32,191 vehicles as against 38,787 vehicles in November 2015.
Exports Remain A Laggard
Exports for the automakers fell 16 percent to 1,15,425 vehicles compared to 1,37,315 vehicles last November. Bajaj hasn’t managed to deliver year-on-year growth in exports since September 2015.
While exports of motorcycles fell 17 percent to 97,992 vehicles, exports of commercial vehicles fell 9 percent to 17,433 vehicles.
Domestic Demand Picture
- Domestic motorcycle sales fell 8 percent to 1,39,765 vehicles.
- Domestic commercial vehicle sales fell 25 percent to 14,758 vehicles.
- Overall domestic sales fell 10 percent to 1,54,523 vehicles.
Shares of Bajaj Auto fell as much as 1.5 percent to Rs 2,653.05 per share.