The decline in domestic sales reflects ongoing market challenges, with factors such as economic conditions and fluctuating consumer demand playing a role. Bajaj Auto reported an 8% year-on-year decline in its domestic two-wheeler sales for October 2024, selling 2,55,909 units compared to 2,78,486 units in October 2023. Despite this decline, the company's overall two-wheeler sales, which include both domestic and export figures, showed a 2% growth year-on-year, reaching 4,14,372 units in October 2024, up from 4,08,144 units in the same period last year. This growth was driven by a significant 22% increase in two-wheeler exports, highlighting strong international demand.
Domestic sales
The decline in domestic sales reflects ongoing market challenges, with factors such as economic conditions and fluctuating consumer demand playing a role. In contrast, exports for October 2024 rose to 1,58,463 units, a substantial increase from the 1,29,658 units recorded in October 2023.
CV sales
Bajaj Auto' commercial vehicle segment also experienced a downturn, with a 6% decline in sales in October 2024 compared to the previous year. The company sold 47,922 commercial vehicles in October 2024, down from 51,132 units in October 2023.
The company's overall performance was driven by strong export growth in the two-wheeler segment, which offset the domestic market challenges. The export figures for two-wheelers surged, underscoring the importance of international markets for Bajaj Auto' sales strategy.
Challenges
The ongoing challenges in the domestic two-wheeler and commercial vehicle markets contrast with the company's robust performance in the export sector.
Despite the declining numbers domestically, Bajaj Auto has managed to maintain overall growth through its international sales efforts. This mixed performance highlights the contrasting dynamics between domestic market struggles and international market successes. While the decrease in domestic sales is notable, the company’s ability to significantly increase its exports has helped balance its overall sales performance.
The data released by Bajaj Auto underscores the crucial role of export markets in countering domestic market fluctuations.
Overall, Bajaj Auto' October 2024 sales data presents a mixed picture, balancing domestic market headwinds with strong export growth in the two-wheeler segment. This resulted in a 2% rise in total two-wheeler sales, reflecting the company’s resilience and strategic focus on international markets.
