Bajaj Two Wheelers Registered 36% Growth in Sales of January 2024

Key Highlights:

• Bajaj Auto annouced its January2024 sales data
• The total sales for January 2024 stood at 3,08,248 units, up from 2,83,001 units in December 2023. 

Bajaj Auto's two-wheeler segment demonstrated remarkable growth in January 2024, with domestic sales surging by an impressive 36% year-on-year (YoY), reaching 1,93,350 units compared to 1,42,368 units in January 2023. Additionally, there was significant month-on-month (MoM) growth of 22.08% compared to December 2023. However, the export segment experienced a decline of 7.8% YoY.

Bajaj Auto MoM Sales

Two-Wheeler Segment

• In January 2024, Bajaj Auto experienced a substantial surge in domestic two-wheeler sales, reaching 1,93,350 units. 
• Moreover, on a month-on-month (MoM) basis, there was a significant growth of 22.08% compared to December 2023, when 1,58,370 units were sold. 
• This indicates a strong demand and market acceptance of Bajaj's two-wheeler offerings in the domestic market.

Export Segment

• However, the export segment witnessed a decline in MoM. In January 2024, Bajaj exported 1,14,898 units, reflecting a MoM decrease of 7.8% from December 2023 when 1,24,631 units were exported. 
• Despite this decline, the export figures remain substantial, indicating Bajaj Auto's presence in the international market.

Combined Performance

• Total sales, combining domestic and export figures, saw a healthy growth of 8.92% in January 2024 compared to December 2023.
• The total sales for January 2024 stood at 3,08,248 units, up from 2,83,001 units in December 2023. 
• While domestic sales primarily drove this growth, the export segment also contributed significantly despite the decline.

Bajaj Auto YoY Sales 

Two Wheeler Segment

• Domestic sales of two-wheelers surged impressively by 36 percent Year-over-Year (YoY), reaching 1,93,350 units in January 2024 compared to 1,42,368 units in January 2023.
• Export figures were equally encouraging, registering a 14 percent YoY growth to 1,14,898 units. 
• Consequently, total two-wheeler sales reached 3,08,248 units, marking a substantial 27 percent YoY increase.

Commercial Vehicle Segment

• Bajaj Auto observed a 12 percent YoY growth in domestic commercial vehicle sales, with 36,693 units sold in January 2024 compared to 32,842 units in January 2023. 
• However, exports in this segment experienced a slight downturn, declining by 8 percent to 11,069 units. 
• Nevertheless, the total commercial vehicle sales still managed to grow by 6 percent YoY to 47,762 units.

Combined Performance

• Combining both segments, domestic markets exhibited a remarkable 31 percent YoY growth, with 2,30,043 units sold compared to 1,75,210 units in January 2023. 
• Similarly, exports demonstrated a healthy 12 percent YoY growth, reaching 1,25,967 units. 
• As a result, the total sales, encompassing both two-wheelers and commercial vehicles, amounted to 3,56,010 units, reflecting a substantial 24 percent YoY increase.

Bajaj Auto YTD Sales  

Two-Wheeler Segment

• In the two-wheeler segment, domestic sales soared by 24% from April 2023 to January 2024, with a total of 18,97,054 units sold compared to 15,33,261 units in the corresponding period of the previous year. 
• However, exports experienced a significant decline of 14%, dropping to 12,22,300 units from 14,27,220 units in the same period last year. 
• Consequently, the total two-wheeler sales increased by a modest 5%, reaching 31,19,354 units in April 2024 to January 2024, compared to 29,60,481 units in the previous year.

Commercial Vehicle Segment

• The commercial vehicle segment showcased an exceptional growth trajectory in domestic sales, witnessing a staggering 67% increase from April 2023 to January 2024. 
• Domestic sales surged to 3,90,382 units from 2,33,543 units in the same period last year.
• However, exports in this segment experienced a downturn, with a 21% decline, falling to 1,28,631 units from 1,62,040 units in the corresponding period of the previous year. 
• Nevertheless, the overall commercial vehicle sales depicted a commendable 31% increase, totaling 5,19,013 units in April 2024 to January 2024, compared to 3,95,583 units in the previous year.

Total Sales Performance

• Combining the sales figures from both segments (2W and CV), the total sales exhibited an 8% growth on a YTD basis. 
• Domestic sales constituted a significant portion of this growth, reaching 22,87,436 units, reflecting a 29% increase compared to the previous year. 
• However, exports witnessed a decline of 15%, totaling 13,50,931 units in April 2024 to January 2024, compared to 15,89,260 units in the same period of the previous year. 
• Consequently, the total sales for Bajaj Auto during this period stood at 36,38,367 units, showcasing a moderate increase from 33,56,064 units in April 2023 to January 2023.

Verdict

Overall, Bajaj Auto's total sales for January 2024 depicted a healthy 8.92% increase compared to December 2023. The company's performance underscores its strength in the domestic market, particularly in the two-wheeler segment. Despite export challenges, Bajaj Auto continues to demonstrate resilience and adaptability, positioning itself for sustained growth in the future.
 

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