Bajaj Auto’s February two-wheeler sales have come in 25 percent higher at 1,20,335 units compared to 96,523 vehicles sold last February. However, it is still below the 1,73,270 units sold in January.
On the exports front, the declining trend seen over the last six months continued. Two-wheeler exports slipped 37 percent to 115,021 units from 182,814 vehicles sold last February.
As the financial year draws to a close, it is also interesting to see how Bajaj Auto’s two-wheeler sales panned outfor the entire financial year. Domestic two-wheeler sales gained 8 percent YTD in FY2023 to 1,653,596 units from 1,534,003 vehicles sold in the same period last fiscal.
Exports however continued to be the key pain point for Bajaj Auto, a key exporter. For the 11 months in FY2023, the two-wheeler major saw a 25 percent decline to 1,542,241 vehicles from 2,046,529 units exported in the same period last fiscal.
Most market observers however consider this as a short-term worry. Speaking to Fianncial Express earlier, Bajaj Auto has denied any plans to cut production in March. However, the company’s outlook for export continues to be cautious due to dollar weakness and challenges in several key export markets like Nigeria.
Nigeria has banned two-wheeler taxis since last November, Egypt had imposed a ban on three-wheelers. These alongwith the low availability of dollars in their export markets impacted sales in LatAm and Africa.