Bajaj Auto Ltd. began 2017 on a weak note with sales falling for the third straight month in January.
Total sales fell 18 percent to 2,41,917 vehicles from 2,93,939 vehicles in January 2016, the Pune-based company said in an exchange filing. Sales had fallen 22 percent in December.
Motorcycle sales fell 16 percent to 2,11,824 vehicles compared to 2,52,988 vehicles in January 2016, while commercial vehicle sales fell 27 percent to 30,093 vehicles.
Exports Decline
Exports fell 19 percent to 1,06,729 vehicles compared to 1,32,069 vehicles. Bajaj hasn't managed to deliver year-on-year growth in exports since September 2015.
Exports of motorcycles fell 18 percent to 92,021 vehicles. Exports of commercial vehicles took a harder hit, dropping 26 percent to 14,708 vehicles.
Domestic Demand Picture
- Motorcycle sales fell 15 percent to 1,19,803 vehicles.
- Commercial vehicle sales slumped 27 percent to 15,385 vehicles.
- Overall domestic sales declined 16 percent to 1,35,188 vehicles.
Shares of the company fell as much as 1.3 percent to Rs 2,816.
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