Bajaj Auto Ltd.'s sales dropped for the fourth time in five months even as exports improved.
Total sales for the month of March dropped 11 percent to 2,72,197 vehicles compared to 3,05,080 vehicles in March 2016, the company said in an exchange filing.
The automaker struggled in the domestic market, with sales declining 17 percent to 1,69,279 units.
Exports remained positive for the second straight month, rising one percent to 1,02,918 units compared to 1,01,519 units last March.
Segmental Performance
- Motorcycle sales declined 14 percent to 1,51,449 units.
- Commercial vehicle sales slumped 35 percent to 17,830 units.
- Motorcycle exports grew 6 percent to 92,786 units.
- Commercial vehicle exports declined 28 percent to 10,132 units.
Shares of Bajaj Auto fell 0.5 percent to Rs 2,791.5 as of 10:05 a.m.
KTM Focus
Bajaj Auto recently ended its eight-year old sales and service tie-up with Kawasaki Motorcycle & Engine Company. The Pune-based automaker stopped managing sales and service of Kawasaki-branded motorcycles in India from April 1, and will instead focus on bikes built by Austria's KTM.
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