Bajaj Auto Ltd.’s sales rose for the eighth straight month in March, driven by healthy growth in commercial vehicles segment.
The two- and three-wheeler maker sold 3.34 lakh units last month, an increase of 23 percent from the year-ago period, the Pune-based company said in a statement today. Overall motorcycles sales rose 11 percent year-on-year to 2.69 lakh units. Motorcycle sales in the domestic market rose 5 percent.
Commercial Vehicles: Highest-Ever Monthly Sales
Bajaj Auto’s commercial vehicle segment clocked its highest-ever monthly sales during the previous month. Sales rose 130 percent year-on-year to 64,409 units.
- Domestic sales jumped 150 percent to 44,613 units.
- Exports jumped 95 percent to 19,796 units.
Overall Exports Outperform
Bajaj Auto’s exports outpaced domestic sales on an overall basis. The automaker exported 1.3 lakh vehicles last month, an increase of 27 percent from the corresponding month in 2017. That compares with the local market sales growth of 20 percent.
The company exported 1.1 lakh motorcycles in March, an increase of 20 percent from the sales closed in March 2016.
Shares of the automaker rose as much as 0.9 percent to Rs 2,770.45 apiece on the bourses in early trade. This compared to 1.2 percent advance in the S&P BSE Auto Index.