Introduction
During October 2023, Bajaj Auto exhibited robust growth in the domestic market, marking a significant 33.71% year-on-year increase in two-wheeler sales. The total domestic sales soared to 2,64,018 units, a substantial surge from the 1,97,453 units recorded in October 2022. The unequivocal star of this performance was the Bajaj Pulsar, not only leading the sales charts but setting a new record by selling 1.61 lakh units, marking the highest-ever sales for this model. As the best-selling motorbike in the domestic market, the Pulsar's success helped it achieve an amazing 61% market share.
Pulsar Dominates with Diverse Sales in the Domestic Market
Delving into the specifics of Pulsar sales, the 125cc model emerged as the frontrunner, boasting 97,083 units, followed by the Pulsar 150cc with 32,880 units, Pulsar 200cc with 24,318 units, and Pulsar 250cc with 7,291 units. Despite the overall positive trend, the 200cc model faced a year-on-year decline. Alongside the Pulsar's stellar performance, other models contributing to Bajaj's domestic triumph included the Platina, with 74,359 units sold, reflecting a substantial 28.56% growth. Additionally, the Bajaj Chetak witnessed an outstanding 223.14% growth by selling 12,137 units.
Challenges in Specific Domestic Models
While the overall domestic market showcased exceptional performance, certain models encountered challenges. Bajaj CT sales witnessed a dip of 29.63%, Avenger experienced a growth of 17.91%, and Dominar sales plummeted by 50.53%, indicating a decline in these specific segments.
Export Challenges and Positive Pulsar Growth
On the export front, Bajaj Auto faced a 6.33% decline in October 2023, with total exports amounting to 1,24,410 units, down from 1,32,813 units in the same period last year. Despite this overall decline, the Pulsar model stood out with a remarkable 69.15% year-on-year growth in exports, reaching 33,619 units. The Boxer model led in exports with 67,218 units, although it faced a notable 16.02% decline.
Mixed Fortunes for Specific Export Models
In the realm of exports, Bajaj CT faced a substantial 45.21% year-on-year decline, while Discover exports displayed a positive trajectory, growing by an impressive 30.33%. However, the Platina, Dominar, Avenger, and Chetak models posted a decline in exports during October 2023.
Conclusion
Due in large part to the Pulsar model's exceptional performance, Bajaj Auto's October 2023 sales report highlights its dominance of the domestic market. Bajaj Auto continues to be a key player in the two-wheeler market despite facing difficulties with some local and export models and skillfully negotiating a variety of market factors.