Bajaj Auto, a leading manufacturer of two and three-wheelers, has showcased robust performance in its latest sales report for June 2024, marking significant gains across key metrics. The company reported a 5% year-on-year increase in total wholesales, with sales climbing to 3,58,477 units from 3,40,981 units in June 2023. This growth trajectory underscores Bajaj Auto’s resilience and market strength amidst evolving industry dynamics.
Domestically, Bajaj Auto had an 8% increase in sales, reaching 2,16,451 cars compared to 1,99,983 units in the same time previous year. This rise was mostly driven by a 7% increase in two-wheeler sales in India, totalling 1,77,207 units. However, exports increased by 1% to 1,42,026 units, indicating sustained worldwide demand despite obstacles.
The two-wheeler category, which accounts for the majority of Bajaj Auto’s portfolio, increased sales by 3% to 3,03,646 units, up from 2,93,649 units last year. This expansion was aided by improved local demand, however export statistics fell by 1%.
In the commercial vehicle market, Bajaj Auto generated tremendous traction, with sales increasing by 16% to 54,831 units in June 2024, up from 47,332 units the previous year. This expansion was driven by a solid 16% gain in domestic three-wheeler sales, as well as a 14% increase in exports, suggesting good performance in both local and worldwide markets.
In the first half of 2024, Bajaj Auto recorded cumulative wholesales of 11,02,056 units, a 7% rise over the same period previous year. Following the news, Bajaj Auto’s share price increased by 2.07% to ₹9,696.55, boosting investor confidence.
Year to date, Bajaj Auto shares have increased by 41%, indicating investor confidence and market appreciation for the company’s strategic efforts and operational efficiency. At 9:45 a.m. on the Bombay Stock Exchange (BSE), shares were trading 1.38% higher at ₹9,630.00 per, indicating ongoing investor interest and bullish mood.
Bajaj Auto’s outstanding result in June highlights its resilience and smart market positioning, delivering growth across key sectors despite a tough economic context.
