In a remarkable display of success in the domestic market, Bajaj Auto Limited reported outstanding sales figures for November 2023. The total sales, encompassing both domestic and export markets, surged to 3,32,223 units, reflecting a significant increase from the 2,49,731 units sold in November 2022. This marked a substantial volume growth of 82,492 units. However, it's noteworthy that there was a month-on-month decline compared to the total sales of 3,88,428 units in October 2023.
Bajaj Auto Domestic Sales – November 2023
Bajaj Auto witnessed a commendable year-on-year growth of 76.37 percent in total domestic sales, reaching 2,10,532 units in November 2023, up from 1,19,367 units in the same month the previous year. This resulted in a noteworthy volume growth of 91,165 units and the sales were driven by models such as Pulsar, Platina, CT, Chetak, and Avenger. It's important to highlight that while total domestic sales excelled, exports experienced a slight dip of 6.65 percent in the past month.
Pulsar Range Dominates
The Pulsar range emerged as a strong contributor to Bajaj's domestic success, with sales surging by 79.29 percent year-on-year to 1,30,403 units in November 2023. Among Pulsar variants, the 125cc and 150cc models stood out with 77,711 units and 28,373 units sold, representing growth rates of 72.03 percent and 109.62 percent, respectively. Pulsar 200cc and 250cc models also experienced positive growth contributing to the overall dominance of the Pulsar range.
Other Models and Segments
Bajaj Platina witnessed a robust growth of 79.83 percent year-on-year, with sales reaching 60,607 units in November 2023, securing a substantial market share. The CT series showcased mixed results, with a 15.69 percent increase in total sales, driven by the 110cc model's impressive 98.26 percent year-on-year growth. However, the CT 125cc variant witnessed a decline of 57.45 percent year-on-year.
Bajaj Chetak, currently the third-best-selling electric scooter in the country, witnessed a remarkable growth of 153.20 percent year-on-year, with 8,472 units sold in November 2023 and the company plans to introduce upgraded versions of the electric scooter with enhanced features.
On the other hand, sales of Dominar experienced a marginal decline of 2.21 percent, and Avenger sales grew by 24 percent year-on-year, contributing to the diversified portfolio of Bajaj Auto.
Bajaj Exports – November 2023
Total exports for November 2023 amounted to 1,21,691 units, reflecting a 6.65 percent year-on-year decline compared to the 1,30,364 units exported in November 2022. The Boxer model commanded the highest demand in exports, despite a year-on-year de-growth of 20.58 percent. Pulsar exports increased by 29.26 percent year-on-year, driven by higher demand for Pulsar 200cc.
While some models experienced a decline in exports, others showed significant growth. Bajaj Platina exports witnessed an impressive year-on-year growth of 364.06 percent showcasing the brand's diverse market presence.
Future Plans
Bajaj Auto is gearing up for further expansion and innovation in its product lineup. Plans include the introduction of the new Pulsar 125cc, competing with rivals like TVS Raider 125, Honda SP 125, and Hero Glamour XTEC. Additionally, the company aims to enhance six Pulsar models in the 125-200cc range by March 2024 showcasing a commitment to continuous improvement and market relevance.
Bajaj Auto Limited showcased robust performance in the domestic market in November 2023 fueled by the success of its Pulsar series. Due to difficulties in the export market, the business must carefully prepare for future expansion with a strong emphasis on innovation and competitiveness in the rapidly changing automotive sector.