Bajaj Auto sales surge 16% YoY to 3.26 lakh units in December; stock falls

Two and three-wheeler manufacturer Bajaj Auto recorded a growth of 16 per cent in total sales in December as compared to sales in the year-ago period. In December 2023, the manufacturer sold 3,26,806 units as compared to 2,81,514 units sold in December 2022. The company’s domestic sales in December surged 28% to 1,90,919 units from 1,48,583 units, year-on-year (YoY). Total exports during the month rose 2% to 1,35,887 units as against 1,32,931 units, YoY.

In the two-wheeler segment, Bajaj Auto’s total wholesales were 2,83,001 units, up 15 per cent from 2,47,052 units in December 2022.

The company sold 1,58,370 units of two-wheeler in the domestic market, a growth of 26 per cent from 1,25,553 units, YoY. Exports of two-wheelers increased 3 per cent YoY to 1,24,631 vehicles.

The 3-wheeler sales soared by 27%, totaling 43,805 units compared to 34,462 units in the previous year.

In December 2023, Bajaj Auto’s commercial vehicle sales jumped 27% to 43,805 units from 34,462 units in December 2022.

At 10 AM, shares of Bajaj Auto were trading at Rs 6766.00, down by 0.51 per cent. Over the past three months, the stock has shown a positive return of 33.5%.

Last week it was reported that Bajaj Auto has filed a trademark application for the name 'Vector', which sparked speculations that the company might be planning to introduce an electric scooter under its Chetak brand of electric vehicles.

The filing of the trademark didn't mention the production of a specific model. In 2020, Bajaj's subsidiary, Chetak Technologies, was established solely for the development of electric two-wheelers. It was during this period that Swedish manufacturer Husqvarna unveiled the 'Vektorr' EV concept, which was believed to be the base of the Chetak EV.

At present, Bajaj Auto has two electric scooters in its portfolio: the Chetak Premium and Chetak Urbane. The Chetak Premium's ex-showroom price is Rs 1.20 lakh, while the Urbane variant is priced at Rs 1.15 lakh.

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