Bajaj Auto has always tried to derisk itself from regional turmoil thanks to its global exposure, which makes up for almost half of its sales. In January 2023, the company sold 140,428 two-wheelers in the domestic market, while exports came at 100,679 units.
On one hand, while domestic wholesales saw an improvement of 4 percent YoY and 16 percent over the previous month. But on the exports front, it was down 46 percent on YoY basis, and 17 percent down on MoM basis. In FY2023, August was the month when domestic sales touched a high of 233,838 units to the lowest of 93,233 units in April 2022.
On the exports front, the performance has been deteriorating over the past couple of months and a close look from April 2022 to January 2023 reveals, the exports saw decline in five months. It was in June 2022, the exports in FY2023 peaked at 190,865 units, to the lowest in the month of January.
In the three-wheeler segment, the company has seen pickup in domestic sales with a YoY growth of 87 percent in the April-January period. Exports however declined by 40 percent YoY. The wholesales for January 2023 came at 32,842 units in the domestic market, and 12,046 units for the export market.
Bajaj Auto’s exports have been impacted due to challenges in the African region which make up a significant share of the company’s global sales. On the other hand, the weakening of the Dollar also impacted its exports. In the domestic market, the slowdown in entry-level products has been a factor affecting two- and four-wheeler makers alike.
