Bajaj Auto reports 16% YoY growth in December 2023 sales
What's the story
Homegrown automaker Bajaj Auto has revealed a 16% year-on-year (YoY) growth in total sales for December 2023.
It sold 3,26,806 units compared to 2,81,514 units in December 2022. The company saw a 28% YoY increase in domestic sales, reaching 1,90,919 units, while total exports grew by 2% YoY to 1,35,887 units.
This impressive growth was fueled by strong performances in both the two-wheeler and commercial vehicle sectors.
Details
Two-wheeler sales up 15%
In the two-wheeler market, Bajaj Auto's total wholesales hit 2,83,001 units in December 2023.
This marks a 15% increase from the previous year's 2,47,052 units.
On the other hand, domestic two-wheeler sales rose by 26% YoY to 1,58,370 units, while the exports grew by 3% YoY to 1,24,631 vehicles.
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What about commercial vehicles?
The commercial vehicle segment also saw significant growth.
The sales soared by 27% to 43,805 units in December 2023 compared to 34,462 units in December 2022.
This surge was driven by a 41% growth in domestic sales at 32,549 units. However, exports of commercial vehicles dipped by 2% YoY to end at 11,256 units.
What Next?
Bajaj Auto's total sales for 2023 up by 7%
For the entire 2023, Bajaj Auto reported a total sales increase of 7% to 32,82,357 units from the previous year's figure of 30,68,129 units.
The company's domestic wholesale sales skyrocketed by 29% to 20,57,393 vehicles, while exports for the year went down 17% YoY to 12,24,964 units.
Bajaj Auto's share price has surged over 33% in the last three months and is up over 86% in one year.
It is currently trading at Rs. 6,740.95 apiece (down 0.82%) on NSE.