Mumbai, November 4: The domestic two wheeler sales of Bajaj Automobiles declined by 8 per cent in October year on year, according to the sales figure data released by the company on Monday. The company recorded domestic two-wheeler sales of 2,55,909 units for the month, a drop from the 2,78,486 units sold during the same period in 2023.
This decrease highlights ongoing challenges within the domestic market, where various factors, such as economic conditions and consumer demand, may have impacted sales. Despite this domestic setback, the company’s overall two-wheeler sales, which include both domestic and export figures, registered a 2 per cent growth year-on-year. Hyundai Motor, Kia Motor Sales in US Jump 17.4% YoY in October 2024 Due to Increased Demand for Hybrid Models.
Total two-wheeler sales reached 4,14,372 units in October 2024, up from 4,08,144 units in October 2023. This modest overall growth can be attributed to the company’s strong export performance. According to Bajaj Automobiles, two-wheeler exports increased by a significant 22 per cent in October this year, reflecting healthy demand in international markets.
Export figures for October 2024 stood at 1,58,463 units, a sharp rise compared to the 1,29,658 units exported during the same month last year. The surge in exports has effectively bolstered the company’s overall performance, underscoring the importance of its international market presence amid a challenging domestic environment.
The company also reported sales figures for its commercial vehicle segment, which saw a 6 per cent decline in October 2024 compared to the previous year. Domestic commercial vehicle sales dropped to 47,922 units in October this year, down from 51,132 units in October 2023. Hyundai’s Global Sales Fall 1.6% Amid Slowdown in Vehicle Demand.
The decline in commercial vehicle sales adds to the company’s challenges in the domestic market, although the strong export growth in the two-wheeler segment has helped balance its overall sales performance. Bajaj Automobiles’ October 2024 sales data presents a mixed picture. While the company faces headwinds in the domestic two-wheeler and commercial vehicle markets, its robust export growth, particularly in the two-wheeler segment, has contributed to a 2 per cent rise in overall two-wheeler sales.
(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)
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