Bajaj Auto Achieves 11% Sales Growth in July 2024, Boosted by Domestic Demand

Bajaj Auto has reported robust sales figures for July 2024, demonstrating growth across its two-wheeler and commercial vehicle segments on a year-on-year (YoY) and year-to-date (YTD) basis. Bajaj's total sales, including two-wheelers and commercial vehicles, reached 3,54,169 units in July 2024 marking an 11% increase compared to 3,19,747 units sold in July 2023. This growth was primarily driven by strong domestic demand, although there was a slight month-on-month decline from the 3,58,477 units sold in June 2024.

Bajaj Auto’s Two-Wheeler Segment Performance:

The two-wheeler segment showed significant growth in the domestic market:

• Domestic sales: 1,68,847 units (19% YoY growth)
• Exports: 1,28,694 units (1% YoY growth)
• Total two-wheeler sales: 2,97,541 units (11% YoY growth)

Bajaj’s Commercial Vehicle Segment Performance:

The commercial vehicle segment also reported positive results:

• Domestic sales: 42,150 units (13% YoY growth)
• Exports: 14,478 units (6% YoY growth)
• Total commercial vehicle sales: 56,628 units (11% YoY growth)

Overall Sales Performance (July 2024):

 

YTD Performance (April-July 2024):

Bajaj Auto's year-to-date performance for the April-July 2024 period also showed strong growth:

Two-Wheeler Segment:

• Domestic sales: 7,51,344 units (+10% YoY)
• Exports: 4,97,114 units (+5% YoY)
• Total: 12,46,458 units (+8% YoY)

Commercial Vehicle Segment:

• Domestic sales: 1,50,274 units (+11% YoY)
• Exports: 57,493 units (+8% YoY)
• Total: 2,07,767 units (+10% YoY)

Overall YTD Performance:

• Total domestic sales: 9,01,608 units (+10% YoY)
• Total exports: 8,20,819 units (+5% YoY)
• Total sales (2W + CV): 14,56,225 units (+8% YoY)

The company's growth can be attributed to strong demand in both domestic and export markets. The two-wheeler segment, in particular, showed robust performance with a 19% increase in domestic sales. The commercial vehicle segment also contributed significantly to the overall growth, with a double-digit increase in domestic and export markets.

Bajaj Auto's new offering, the Bajaj Freedom, has garnered attention as the world's first CNG bike. The Freedom 125, available in three variants with petrol and CNG fuel options, claims a range of 330 km, potentially offering economical running costs for consumers.