Bajaj Auto Sales Rise For Third Straight Month In October
Bajaj Auto Ltd.’s sales rose for the third straight month in October, driven by a healthy growth in exports.
The two- and three-wheeler maker sold 3.82 lakh units last month, an increase of 7 percent from the year-ago period, the Pune-based company said today.
Overall motorcycles sales rose 6 percent year-on-year to 3.25 lakh units. Motorcycle sales in the domestic market declined 1 percent.
Commercial Vehicles: Highest-Ever Domestic Sales
Bajaj Auto’s commercial vehicle sales rose at its fastest pace in the domestic market. They increased 17 percent year-on-year to 56,686 units.
- Domestic sales jumped 38 percent to 35,657 units
- Exports declined 7 percent to 21,029 units
Overall Exports Outperform
Even as the exports declined in the commercial vehicles segment, it outpaced domestic sales on an overall basis. Bajaj Auto exported 1.35 lakh vehicles last month, an increase of 15 percent from the corresponding month in 2016. That compares with the local market sales growth of 4 percent.
The company exported 1.14 lakh motorcycles in October, an increase of 20 percent from the sales closed in October 2016.
Shares of the auto maker rose as much as 1.2 percent to Rs 3,278 apiece on the bourses in early trade. This compared to a drop of 0.4 percent in the S&P BSE Auto Index.