Bajaj Auto sales grow 11% to 43.5 lakh units in FY24, exports surge in March
Upstox
2 min read • Updated: April 2, 2024, 11:02 AM
Summary
Bajaj Auto recorded a sharp uptick in exports in March 2024, the final month of FY24. The company posted total overseas sales of 1.45 lakh units, which was 39% higher as compared to 1.05 lakh units sold in the same month last year.
Bajaj Auto posted total sales of 43.5 lakh units in the financial year 2023-24, which was 11% higher as compared to 39.27 lakh units sold in FY23, as per the data shared by the automobile major on Tuesday, April 2.
In the domestic market, the company sold a total of 27.14 lakh vehicles in the April 2023-March 2024 period, which is 29% higher as compared to 21.06 lakh vehicles sold in the year-ago period.
The year-on-year exports dipped, as Bajaj Auto recorded total overseas sales of 16.36 lakh units in FY24, down 10% as against 18.21 lakh units sold in FY23.
Of the total annual sales of 43.5 lakh units, two-wheelers accounted for 37.27 lakh units. This is 8% higher than 34.42 lakh units sold in FY23.
A higher rate of growth was recorded by the company in its commercial vehicles (CVs) segment. A total of 6.23 lakh CVs were sold in FY24, 28% higher than the sale of 4.85 lakh CVs recorded in the preceding year.
March exports jump
Bajaj Auto recorded a sharp uptick in exports in March 2024, the final month of FY24. The company posted total overseas sales of 1.45 lakh units during the month, which was 39% higher as compared to 1.05 lakh units sold in the same month last year.
Two-wheelers accounted for 1.30 lakh of the total units exported during the month, higher by 38% as against 94,715 units exported in March 2023. The export of CVs came in at 14,630 units, up 42% from 10,330 units in the year-ago period.
The domestic sales in March 2024 came in at 2.20 lakh units, higher by 18% as compared to 1.86 lakh units sold in March 2023, Bajaj Auto said.
The combined sales, including the units sold in the domestic market as well as those exported, came in at 3.65 lakh units in March 2024, up 25% as against 2.91 lakh units sold in the same month last year.
Bajaj Auto's stock, during the early trading hours, edged in the green. The shares were trading at ₹9,293.05 apiece on the NSE at 11:01 am, up 2.77% as against the previous day's close.