Bajaj Auto Ltd, India’s largest auto manufacturer, said it sold 421,640 vehicles in November 2024, up 5% year on year. According to the company, sales for the month came in at 421,640 units versus 403,003 in the same period last year.
Export growth is on the back of a marked improvement in exports, up by 24% at 180,786 units in November 2024 from an export of 145,259 vehicles during the comparable month of 2023. That should indeed reflect a strong performance across markets outside India and mounting demand for the car outside India.
However, the company has recorded mixed results in its domestic market sales. Domestic sales of two and three-wheelers with commercial vehicles at Bajaj Auto dropped by 7% at 240,854 units compared to November 2023 at 257,744 units. Two-wheeler sales for the company declined by 7% at 203,611 units compared to the same period last year when it sold 218,597 units.
This makes Bajaj Auto effectively witness higher growth in two-wheeler sales in the absolute terms that include domestic volume apart from overseas volume. And if one looks to November 2024, there have been reports of overall two-wheelers sold on 368,076 with a volume seen at a growth rate of 5% over the respective corresponding period last year volumes at 349,048. Major contributors of the increase were a high 26% spike in two-wheeler export, which surged to 164,465 units compared with 130,451 units from November 2023.
Bajaj Auto also said that sales of commercial vehicles declined at a low level. The aggregate domestic and export sales for commercial vehicles of the company downed 1% for November 2024 at 53,564 units for the same period last year that were 53,955 units.
The company shows commitment to building its international footprint in a month when it logged impressive export performance. From day one, the company has been focusing on bettering the product portfolio and strengthening presence in international markets, thus contributing to a healthy export growth trajectory.
Decline in sales of two-wheelers. Sale of two-wheeler business was not supportive to Bajaj Auto; but the company stands at an important level in competitive scenario in India. The company will act to raise sale of two-wheeler business inside India also capture export opportunities through several forthcoming months.
Overall, the performance of Bajaj Auto seems good in such a challenging market environment as presented in November 2024. Domestic as well as international markets Bajaj Auto needs to pay special attention to continue their such growth momentum and satisfy long-term goals.
Perhaps it will just get along and continue milking off of the export markets where demand for its products remains strong and troubles in the domestic market work themselves out by this point of the year.
