Bajaj Auto Misses The Bus In May
Bajaj Auto Ltd. sold lesser vehicles in May this year, compared to the same period last year. The Pune-based automaker saw its monthly sales drop 10 percent last month, making it the only two-wheeler manufacturer in the listed space to post a decline. It is also the seventh-straight month of drop in sales for the bike maker.
Exports Decline
Exports fell 3 percent to 1,39,709 vehicles compared to 1,43,421 vehicles. Exports have declined after outperforming for four months in a row.
The company's struggles in the domestic market continued with sales declining 15 percent to 174,047 units.
Segmental Performance
- Motorcycle sales in India declined 10 percent to 2,77,115 units.
- Motorcycle exports fell 5 percent to 1,20,592 units.
- Commercial vehicles sales in India dropped 28 percent to 36,641 units.
- Commercial vehicle exports grew 20 percent to 19,117 units.
Shares of the two-wheeler maker dropped as much as 2.3 percent, making it one of the worst performing members on the Nifty and the Sensex.
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