Two-Wheeler Sales February 2024: Bajaj Auto Domestic Sales Up 42 Per Cent

Strong sales in the domestic market saw Bajaj Auto post a cumulative sales growth of 24 per cent in the month.

By Carandbike Team

1 mins read

Published on March 2, 2024

Highlights

Cumulative sales for February 2024 up 24 per cent year-on-year
Two-wheeler sales in domestic market up 42 per cent
Commercial Vehicles sales were up by 10 per cent in the domestic market

Bajaj Auto Limited reported a notable upswing in its two-wheeler sales in the domestic market with 1,70,527 units sold in February 2024. This marked a 42 per cent growth over the same period last year where the brand reported sales of 1,20,335 units. Sales however were lower as compared to January 2024 where the brand retailed 1,93,350 units.

The export figures for two-wheelers meanwhile reflected a growth of 8 per cent reaching 1,24,157 units - up from 1,15,021 units last year. Collectively, the two-wheeler category experienced an overall growth of 25 per cent with 2,94,684 units sold.

As for the commercial vehicles division, the company reported domestic sales of 36,367 units, a 10 per cent increase from the previous year. The export figures for commercial vehicles surged even higher, witnessing a 31 per cent growth and totaling 15,611 units - up from 11,914 units last year. The combined sales for commercial vehicles stood at 51,978 units - a growth of 16 per cent year-on-year.

In the aggregate, when considering both two-wheelers and commercial vehicles, the domestic market saw a substantial 35 per cent surge, reaching a total of 2,06,894 units. Meanwhile, the export market contributed to an additional 10 per cent growth, totaling 1,39,768 units. Consequently, the overall sales for February 2024 reached 3,46,662 units which marked a 24 per cent increase compared to the same period in 2023.

Moving to the year-to-date data for the financial year 2024, sales of two-wheelers in the domestic market stood at 20,67,581 units - up 25 per cent from 16,53,596 units reported in the same period during the last financial year. Exports for two-wheelers however experienced a decline of 13 per cent, totaling 13,46,457 units. The cumulative two-wheeler sales meanwhile stood at 34,14,038 units for FY2024, showcasing a 7 per cent increase over FY2023.

In the commercial vehicles category, the domestic market witnessed a substantial 60 per to 4,26,749 units though exports slid by 17 per cent year-on-year to 1,44,242 units. Overall, the commercial vehicles segment including exports achieved a notable 30 per cent growth, reaching a total of 5,70,991 units.

As for the cumulative sales for the period from April 2023 to February 2024 the company has reported sales of 39,85,029 units, which marks a 10 per cent growth compared to the same period in the previous year