Bajaj Auto sales growth July 2024

Bajaj Auto Surges with 11% Sales Growth in July 2024 – What’s Driving Their Success?

Bajaj Auto, one of India’s top two and three-wheeler manufacturers, has reported an impressive 11% year-on-year growth in its sales for July 2024. This significant increase has brought the total units sold to 3,54,169, compared to 3,19,747 units in the same month last year. The growth was evenly distributed across both two-wheelers and commercial vehicles segments.

Stock Market Response

The announcement was made just before the market opened, leading to an initial rise in Bajaj Auto’s stock price by nearly 2%. Shortly after the market opened, Bajaj Auto’s shares surged to a high of ₹9,844 apiece on the National Stock Exchange (NSE), reflecting a 1.86% increase from the previous closing price. However, by 9:30 am, the stock had settled to a 0.52% increase, trading at ₹9,714 per share.

Detailed Sales Analysis

Overall Sales Performance

In July 2024, Bajaj Auto recorded an 11% overall growth in sales, reaching 3,54,169 units, up from 3,19,747 units in July 2023. This growth was evenly spread across its two primary segments: two-wheelers and commercial vehicles, each showing an 11% increase.

Two-Wheeler Sales

In the two-wheeler segment, Bajaj Auto sold a total of 2,97,541 units in July 2024, compared to 2,68,840 units in July 2023.

Domestic Sales: The domestic market saw a robust 19% growth, with sales rising to 1,68,847 units from 1,41,990 units in the previous year.
Exports: Export sales showed a modest 1% growth, with 1,28,694 units sold compared to 1,26,850 units in July 2023.

Category	Jul-24	Jul-23	Change %
Domestic	1,68,847	1,41,990	19%
Exports	1,28,694	1,26,850	1%
Total	2,97,541	2,68,840	11%

Commercial Vehicle Sales

The commercial vehicles segment also witnessed growth in both domestic and export markets.

Domestic Sales: Domestic sales rose by 13%, with 42,150 units sold in July 2024 compared to 37,273 units in the previous year.
Exports: Exports increased by 6%, with 14,478 units sold compared to 13,634 units in July 2023.

Category	Jul-24	Jul-23	Change %
Domestic	42,150	37,273	13%
Exports	14,478	13,634	6%
Total	56,628	50,907	11%

Cumulative Sales Performance

For the four-month period ending July 31, 2024, Bajaj Auto reported an 8% growth in overall sales, reaching 14,56,225 units compared to 13,47,154 units in the same period last year. This steady performance underscores Bajaj Auto’s strong market presence and its ability to navigate the challenging automotive market landscape.

Conclusion

Bajaj Auto’s consistent growth across both two-wheelers and commercial vehicles segments highlights the company’s strong market position and robust demand for its products. The positive response from the stock market further reflects investor confidence in Bajaj Auto’s performance and future prospects. As the company continues to innovate and expand its reach, it remains well-positioned to maintain its growth trajectory in the competitive automotive industry.