Bajaj Auto, a well-known motorcycle manufacturer, achieved remarkable success in October 2023. Their sales reached an all-time high, marking a significant milestone in the company's history. This success was not limited to just the Indian market but also extended to commercial vehicle sales.
Impressive Year-on-Year Growth
Bajaj Auto recorded a remarkable 19% year-on-year growth in total sales, including two-wheelers and commercial vehicles, in October 2023. They sold a total of 4,71,188 units, showcasing a strong performance compared to the 3,95,238 units sold in October 2022.
Two-Wheeler Triumph
The two-wheeler segment particularly stood out with a 35% increase in sales during October 2023, compared to the same month in the previous year. Bajaj Auto sold 2,78,486 two-wheelers in October 2023, up from 2,06,131 units in October 2022. This also marked a month-on-month growth when compared to 2,02,510 units sold in September 2023.
Pulsar Series Shines
The Bajaj Pulsar range played a significant role in driving the company's sales, with more than 1.61 lakh units sold during October 2023. However, the company experienced a 5% year-on-year decline in motorcycle exports, with 1,29,658 units shipped in October 2023, down from 1,35,772 units in the same month of the previous year.
Commercial Vehicle Success
In the domestic market, Bajaj Auto achieved a remarkable 39% year-on-year growth in commercial vehicle sales, selling 51,132 units in October 2023. This surge in commercial vehicle sales represented the company's highest-ever domestic performance. However, exports of commercial vehicles saw a 28% decline, with 11,912 units shipped in October 2023 compared to 16,549 units in the same month of the previous year.
Year-to-Date Progress
On a year-to-date basis, Bajaj Auto's total two-wheeler and commercial vehicle sales exhibited a strong growth of 19% in October 2023. Out of the total 4,71,188 units sold, 3,29,618 units were sold in the domestic market, indicating a 36% year-on-year increase over the 2,42,917 units sold in October 2022. However, exports saw a 7% decrease, with 1,41,570 units shipped compared to 1,52,321 units in the previous year.
A Positive Year So Far
Bajaj Auto's success extended beyond just a single month. Year-to-date figures for the two-wheeler segment displayed a 16% growth in sales for the April to October 2023 period compared to the same seven months in 2022. However, exports of two-wheelers decreased by 20% in this period. For commercial vehicles, domestic sales experienced an impressive 90% year-on-year growth, while exports fell by 26% in the same period. In total, combining two-wheeler and commercial vehicle sales, domestic sales increased by 3% year-on-year in October 2023, while exports declined by 21% from April to October 2023 compared to the same seven-month period in 2022. Bajaj Auto's performance in the domestic market remained strong, with a 25% increase in domestic sales, but exports experienced a 21% decrease during the April to October 2023 period compared to the same period in the previous year.