Bajaj Auto posts 11% jump in July sales, stock rises nearly 2%

Bajaj Auto, one of the country's top two and three-wheeler manufacturers, posted a year-on-year (YoY) jump of 11% in its sales during the month of July 2024.

The disclosure, made shortly before the market hours commenced, led to the company's stock rising by nearly 2% following the opening bell.

However, by 9:30 am, the stock pared around two-third of the gains and was trading 0.52% higher at ₹9,714 apiece.

Bajaj Auto's July sales

The automobile major recorded an 11% overall growth in sales to 3,54,169 in July 2024, as compared to 3,19,747 units in the same month last year.

The growth rate was evenly distributed under both of its key segments -- two-wheelers and commercial vehicles -- whose sales climbed by 11% each.

In the two-wheeler category, overall sales of 2,97,541 was clocked in July 2024, as compared to 2,68,840 units in the year-ago period.

Two-wheeler exports, however, remained muted with a 1% growth. The company sold 1,28,694 units in the overseas market last year, as compared to 1,26,850 units sold in July 2023.

Meanwhile, the sale of two-wheelers in the domestic market came in at 1,68,847 units in July 2024, higher by 19% as against the year-ago period.

Sales data of two-wheelers

In the commercial vehicles category, a total domestic sales of 42,150 units was clocked, 13% higher than 37,273 units sold in July 2023.

The exports of commercial vehicles jumped 6% YoY to 14,478 units, as against 13,634 units in the same month last year.

The overall commercial vehicle sales in July came in at 56,628 units in July 2024, 11% higher as compared to 50,907 units sold in the year-ago period.

Sales data of commercial vehicles

Notably, in the four-month period ended July 31, 2024, Bajaj Auto has recorded an 8% growth in overall sales at 14,56,225 units. In the April-July period of 2023, the company had logged overall sales of 13,47,154 units.