Pune-Bajaj Auto Limited, India's two-wheeler and commercial vehicle Manufacturing Company, has announced the sales figures for July 2024. It showcasing the growth over the same period last year and continues the positive trend observed in the previous month.
In July 2024, the company total sales reached 354,169 units, representing a substantial 11% growth compared to 319,747 units in July 2023. This rise was driven mainly by strong domestic market results, with particular success in the two-wheeler sector.
Domestic sales of two-wheelers climbed 19% year-on-year, with 168,847 units sold in July 2024, compared to 141,990 units in July 2023. This significant growth highlights a growing consumer for Bajaj's motorcycles and scooters in the Indian market.
The commercial vehicle sector saw a positive trend, with domestic sales rising by 13% to 42,150 units in July 2024, up from 37,273 units in July of the previous year. This uptick suggests a recovery in the market, potentially driven by growing economic activity and ongoing infrastructure projects.
Exports remained stable, with a small 1% growth in two-wheeler exports and a 6% increase in commercial vehicle exports compared to July 2023. The total exports amounted to 143,172 units, representing a 2% year-over-year rise.
In July 2024, Bajaj Auto continued to show robust sales performance, though there was a minor decrease compared to June 2024. Sales fell slightly from 3,58,477 units in June to 3,54,169 units in July, reflecting a minimal decline of just over 1%.
Domestic sales in the two-wheeler segment experienced a slight decline, dropping from 1,77,207 units in June to 1,68,847 units in July. However, this decline was partially balanced by a small rise in export figures, which grew from 1,26,439 units to 1,28,694 units.
The commercial vehicle segment experienced growth on a month-to-month basis, with domestic sales rising from 39,244 units in June to 42,150 units in July, marking a 7% increase.
For the April to July 2024 period, year-to-date data shows strong performance, with total sales reaching 1,456,225 units—an 8% rise from the same months in 2023. Domestic sales have increased by 10%, and exports have grown by 5% during this period.
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