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Bajaj Auto Sales in March 2024, Gained 25% increase in YoY Sales Performance

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Gargi Khatri
Gargi Khatri
|Updated on:03-Apr-2024 03:19 PM

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ByGargi Khatri

Updated on:03-Apr-2024 03:19 PM

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Bajaj Auto's March 2024 sales surged 25% YoY, bolstered by robust domestic and export growth across two-wheelers and commercial vehicles, showcasing its position as a key player in India's market.

Bajaj Auto Sales in March 2024, Gained 25% increase in YoY Sales Performance
Bajaj March Sales Overview

Key Highlights:

  • Bajaj Auto has witnessed 25% growth in YoY sales performance of March 2024.
  • The brand has showcased 5.5% increase on MoM basis in March 2024.
  • For Year-to-Date sale performance the brand has showcased positive growth of 11% in april-March 2024.

Bajaj Auto has showcased impressive YoY and MoM growth, setting the brand as one of the top most players in the two-wheeler market of India.  The company reported a significant 25 percent overall growth in sales compared to March 2023. This growth was observed across both the two-wheeler (2W) and commercial vehicle (CV) segments, as well as in domestic and export markets. Here's a detailed analysis of the sales performance based on the provided information.

At present Bajaj offers 10 bikes under the Pulsar lineup, 2 models in Domior range, Dominar 250 and Dominar 400, 3 models in Avenger cruiser category, 2 variations of CT commuter and , and one Platina. Along with this the bike also has its electric scooter line Chetak, which has been popular among Indian Buyer. Bajaj has introduced updated versions of some models in the Pulsar line up, and the brand has been in news, recently, for announcing the launch of India’s first CNG powered bike, by the second half of 2024. All the ongoing steps taken by Bajaj have also influenced the overall growth of Bajaj on MoM as well as YoY basis.

Year-on-Year (MoM) Performance

BAJAJ 2-WHEELERS

March’24

March’23

YoY Growth%

Domestic

1,83,004

1,52,287

20

Exports

1,30,881

94,715

38

Sub Total

3,13,885

2,47,002

27

BAJAJ TOTAL (2W+ CV)

March’24

March’23

YoY Growth%

Domestic

2,20,393

1,86,522

18

Export

1,45,511

1,05,045

39

Total

3,65,904

2,91,567

25

In March 2024, domestic sales of two-wheelers increased by 20 percent year-on-year (YoY), reaching 1,83,004 units. The company also recorded a substantial growth of 38 percent in exports, with 1,30,881 units shipped compared to 94,715 units in March 2023. Consequently, the total sales of two-wheelers surged by 27 percent YoY to 3,13,885 units in March 2024.

When considering the total sales combining both two-wheelers and commercial vehicles, Bajaj Auto experienced an 18 percent YoY growth in domestic sales, reaching 2,20,393 units in March 2024. Exports witnessed a remarkable 39 percent YoY growth, with 1,45,511 units shipped. As a result, the total sales for March 2024 stood at 3,65,904 units, marking a substantial 25 percent YoY increase compared to March 2023.

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Bajaj Auto Sales in March 2024, Gained 25% increase in YoY Sales Performance
Pie Chart: BAJAJ SEGMENT-WISE SALES IN MARCH 2024

Month-on-Month (MoM) Performance

BAJAJ 2-WHEELERS

March’24

February’24

MoM Growth%

Domestic

1,83,004

1,70,527

7.3

Exports

1,30,881

1,24,157

5.4

Sub Total

3,13,885

2,94,684

6.5

BAJAJ TOTAL (2W+ CV)

March’24

February’24

MoM Growth%

Domestic

2,20,393

2,06,894

6.5

Export

1,45,511

1,39,768

4.1

Total

3,65,904

3,46,662

5.5

On a month-on-month basis, Bajaj Auto's sales maintained a positive graph. Both two-wheelers and commercial vehicles experienced growth in domestic and export markets. Notably, the MoM growth rates ranged from 0.07 percent to 7.3 percent across different segments, indicating a steady upward trend in sales compared to February 2024.

Year-to-Date (YTD) Performance

BAJAJ 2-WHEELERS

April-March 2024

April-March 2023

MoM Growth%

Domestic

22,50,585

18,05,883

25

Exports

14,77,338

16,36,956

-10

Sub Total

37,27,923

34,42,839

8

BAJAJ TOTAL (2W+ CV)

April-March 2024

April-March 2023

MoM Growth%

Domestic

27,14,723

21,06,617

29

Export

16,36,210

18,21,240

-10

Total

43,50,933

39,27,857

11

Examining the cumulative sales performance from April 2023 to March 2024, Bajaj Auto demonstrated a mixed bag of results. While domestic sales of both two-wheelers and commercial vehicles surged significantly by 25 percent and 54 percent respectively, exports faced a setback, declining by 10 percent for two-wheelers and 14 percent for commercial vehicles. Despite this, the overall YTD sales increased by 11 percent, primarily driven by the robust performance in the domestic market.

CarBike360 Says

Bajaj Auto's sales performance in March 2024 reflects a strong growth momentum, driven by the expansion in both domestic and export markets across two-wheeler and commercial vehicle segments. The company's strategic initiatives, including its portfolio expansion with the introduction of new and updated  models, have contributed to its positive sales trajectory.

Source: Bajaj Sales Report PR


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