Bajaj Auto saw a 5% drop in the total motorcycle sales in June with exports continuing to slide. Total motorcycle and commercial vehicle (CV) sales fell 4% in June to 3.16 lakh units.
However, the company’s total domestic motorcycle and CV sales were up 11% to 1.93 lakh units.
But this was not enough to compensate for a 21% fall in exports of 1.23 lakh units. The Bajaj stock fell 0.68% on the BSE to R2,650.85 on Monday after the June sales numbers were announced. The company is now banking on good monsoons to report better numbers in July and August 2016.
The company’s domestic motorcycle sales in June went up 9% to 1.68 lakh units but exports fell by 21% to 1.04 lakh units. This led to total motorcycle sales falling by 5% to 2.73 lakh units. Similarly in the commercial vehicle segment too, exports dropped by 20% to 18,579 units but CV sales in the domestic market was up 22% to 25,092 units.
Bajaj ended the first quarter of FY17 with a 2% fall in total sales to 9.94 lakh units compared to the 1.01 million unit sales it enjoyed in the same quarter in FY16.