August 2023 Sales Report: Bajaj Auto Continues To Experience Major Fall in Sales

Published at September 8, 2023 by BikeJunction

August 2023 Sales Report: Bajaj Auto Continues To Experience Major Fall in Sales

Bajaj Auto has been India’s oldest and leading 2-wheeler & commercial vehicle manufacturer for a long time. However, the sales report the company released for the month of August 2023 showcased a massive decline in sales.

Bajaj 2W Sales	Aug 23	Aug 22	Difference	Growth % YoY	% Share Aug 2023
Domestic	1,60,820	2,33,838	-73,018	-31.23	56.42
Exports	1,24,211	1,21,787	2,424	1.99	43.58
Total	2,85,031	3,55,625	-70,594	-19.85	100.00

Comparing the YoY sales figures for August 2023, it showed a significant 31.23% dip in the domestic market as compared to August 2022. Domestic sales in August 2023 were at 1,60,820 units, while in August 2022, it was at 2,33,838 units. However, the export numbers looked decent, with a minor rise of 1.99% in sales. The company exported a total of 1,24,211 units in August 2023, as opposed to 1,21,787 units in August 2022.

Bajaj 2W Sales	Aug 23	Aug 22	Difference	Growth % MoM	% Share Aug 2023
Domestic	1,60,820	1,41,990	18,830	13.26	52.82
Exports	1,24,211	1,26,850	-2,639	-2.08	47.18
Total	2,85,031	2,68,840	16,191	6.02	100.00

Looking at the MoM sales figures for August 2023 showed positive growth of 13.26% for its domestic sales figures. In August 2023, the company sold over 1,41,990 units. As for the exports, the company exported a total unit of 1,26,850 in July 2023, experiencing a slight dip of 2.08%.

Bajaj Commercial Vehicles Sales Figures

Bajaj CVs	Aug 23	Aug 22	Difference	Growth % YoY	% Share Aug 2023
Domestic	44,280	22,917	21,363	93.22	78.21
Exports	12,337	23,053	-10,716	-46.48	21.79
Total	56,617	45,970	10,647	23.16	100.00

Bajaj Auto's commercial vehicle segment, which includes three-wheelers and the Qute quadricycle, had a remarkable performance in India in August 2023. They achieved substantial growth compared to August 2022, selling 44,280 units in 2023, a significant increase from 22,917 units in 2022.

However, the international market didn't follow the same trend. In August 2023, Bajaj Auto exported 12,337 units, which is less than the 23,053 units they exported in August 2022. This means they sold fewer vehicles to other countries compared to the previous year.

Total Bajaj Auto Sales Aug 2023

Bajaj Auto Total	Aug 23	Aug 22	Difference	Growth % YoY	% Share Aug 2023
Domestic	2,05,100	2,56,755	-51,655	-20.12	60.03
Exports	1,36,548	1,44,840	-8,292	-5.72	39.97
Total	3,41,648	4,01,595	-59,947	-14.93	100.00

When we combine the sales figures for both two-wheelers and commercial vehicles at Bajaj Auto, we can see that their total sales in August 2023 experienced a decline when compared to August 2022. Specifically, in August 2023, they recorded a total sales figure of 3,41,648 units, which is lower than the 4,01,595 units they achieved in August 2022. This represents a year-on-year decrease of 14.93%.

Bajaj Auto Fiscal Year-to-Date Performance

Bajaj Auto 2W Sales	FY 24 YTD	FY 24	Difference	Growth % YoY	% Share FY 24
Domestic	8,45,741	7,12,640	1,33,101	18.68	58.60
Exports	5,97,460	8,05,197	2,07,737	-25.80	41.40
Total	14,43,201	15,17,837	-74,636	-4.92	100.00

Taking a closer look at Bajaj Auto's fiscal year-to-date performance, we can see some interesting trends. In the two-wheeler segment, the company experienced robust growth of 18.68% in the domestic market, but exports took a hit with a 25.80% drop compared to the same period last year. Meanwhile, in the commercial vehicle segment, Bajaj Auto achieved an impressive 125.48% growth in domestic sales, but exports in this segment decreased by 29.02%. Notably, the strong domestic growth in commercial vehicles played a significant role in the company's overall performance.

Bajaj Auto 2W Sales	FY 24 YTD	FY 23	Difference	Growth % YoY	% Share FY 24
Domestic	1,80,178	79,907	1,00,271	125.48	73.36
Exports	65,423	92,167	-26,744	-29.02	26.64
Total	2,45,601	1,72,074	73,527	42.73	100.00

When we consider both two-wheelers and commercial vehicles together, Bajaj Auto reported substantial growth of 29.45% in domestic sales, while exports declined by 26.13% during the fiscal year to date.

Bajaj Auto Total	FY 24 YTD	FY 23	Difference	Growth % YoY	% Share FY 24
Domestic	10,25,919	7,92,547	2,33,372	29.45	60.75
Exports	6,62,883	8,97,364	-2,34,481	-26.13	39.25
Total	16,88,802	16,89,911	-1,109	-0.07	100.00

Bajaj Auto's two-wheeler lineup includes a diverse range of motorcycles, such as the popular Pulsar, Dominar, CT, Platina, Avenger, and the Chetak electric scooter, which are available in the domestic market. In the international market, they offer a variety of models, including Boxer, Pulsar, CT, Discover, Dominar, Platina, and Avenger motorcycles.

Despite the challenges posed by various market factors, Bajaj Auto continues to maintain its dominant position in the Indian automotive industry. The company's strategy of offering a diversified product range and a focus on domestic sales in the commercial vehicle segment has proven to be effective in ensuring resilience and growth. Bajaj Auto remains committed to delivering high-quality vehicles to its customers, and industry observers will be closely monitoring its performance as the fiscal year progresses.

Before you go, don’t forget to check out the detailed FADA sales report for August 2023.

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