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Auto Sales May 2024: Bajaj sees 4% export rise & 3% domestic decline

Published on 4 Jun, 2024, 11:36 AM IST
Updated on 5 Jun, 2024, 5:30 AM IST
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Chinmay Hadkar
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1

Exports Shine Despite Domestic Downturn in May 2024

Bajaj Auto has reported a mixed bag for its May 2024 sales. While exports continued their upward climb with a 4 percent year-over-year increase, domestic sales witnessed a slight 3 percent dip compared to May 2023. This domestic decline follows a similar trend observed in April 2024, prompting questions about short-term market fluctuations.

2

However, a broader view reveals a more promising picture for Bajaj Auto Sales in May 2024. When taking a look at the April-May 2024 period as a whole, Bajaj's domestic two-wheeler sales registered an encouraging 8 percent growth compared to the same timeframe in 2023. This suggests Bajaj's domestic market dominance remains strong despite the May hiccup.

Particulars

Apr-May 2024

Apr-May 2023

Change %

2-WHEELERS

DOMESTIC

405,290

376,639

8

EXPORTS

241,981

219,042

10

SUB-TOTAL

647,271

595,681

9

COMMERCIAL VEHICLES

DOMESTIC

68,880

64,934

6

EXPORTS

27,428

25,811

6

SUB-TOTAL

96,308

90,745

6

TOTAL (2-WH + CV)

DOMESTIC

474,170

441,573

7

EXPORTS

269,409

244,853

10

TOTAL

743,579

686,426

8

3

Further strengthening Bajaj's export figures. The company shipped a healthy 1,17,142 units internationally in May 2024, a 4 percent increase over the 1,12,885 units exported in May 2023. This consistent export growth signifies Bajaj's continued success in international markets.

2-WHEELERS

May-24

May-23

Change %

DOMESTIC

188,340

194,811

-3

EXPORTS

117,142

112,885

4

SUB-TOTAL

305,482

307,696

-1

COMMERCIAL VEHICLES

May-24

May-23

Change %

DOMESTIC

36,747

33,590

9

EXPORTS

13,094

13,862

-6

SUB-TOTAL

49,841

47,452

5

TOTAL (2-WH + CV)

May-24

May-23

Change %

DOMESTIC

225,087

228,401

-1

EXPORTS

130,236

126,747

3

TOTAL

355,323

355,148

4

Bajaj Auto is also taking steps to address potential domestic market challenges. A lot of Bajaj products have been spotted testing and we expect a few of them to be unveiled this month.

5

It has launched a great value-for-money product in the form of the Pulsar NS400Z and is gearing up for the launch of its first CNG motorcycle tentatively on June 18. This should result in an upward trajectory for the brand in terms of sales units for the coming months. While a temporary domestic slowdown is present, the company's robust export performance and upcoming product launches indicate it will maintain its leadership position in the two-wheeler market.

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Auto Sales May 2024
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