Bajaj Auto's Commercial Vehicle Sales Grew by 17% in March

Key Highlights:
•    Bajaj Auto achieves remarkable 25% YoY growth in March sales, totalling 365,904 vehicles.
•    Commercial vehicle sales also see significant growth, rising by 17% in March.
•    FY 2023-24 witnesses an 11% overall growth with 43.51 lakh vehicles sold.
•    Bajaj Auto's commercial vehicle exports skyrocketed by 42%, while domestic sales grew by 9% in the fiscal year.

Bajaj Auto, the Pune-based company, total sales increased by 25% year on year in March, and the automaker's sales increased by 11% for the entire fiscal year 2024.

In March, the company dispatched 365,904 vehicles, including two-wheelers and commercial vehicles, up from 291,567 the previous year.

Two-wheeler sales

Total two-wheeler sales increased 27 per cent year on year to 313,885 units. Domestic and export volumes fueled two-wheeler sales. Domestic sales increased 20% to 183,004 units, while exports increased 38% to 130,881 units.

Commercial Vehicle Sales

Bajaj Auto's commercial vehicle sales increased 17 per cent to 52,019 units during the month. Bajaj Auto's commercial vehicle exports also improved significantly, rising 42 per cent year on year to 14,630 units. Domestic sales of commercial vehicles increased by 9% to 37,389 units.

Also Read: Bajaj Auto Accelerates into Electric Three-Wheeler Market, Sells 1,232 Units in November

Financial Year 2023-24

In the fiscal year 2023-24, the company shipped 43.51 lakh automobiles, compared to 39.28 lakh in the previous year. Total two-wheeler sales rose by 8% to 37.28 lakh units, while commercial vehicle sales surged by 28% to 6.23 lakh units.

CMV360 Says

Bajaj Auto's impressive 17% growth in commercial vehicle sales for March 2024, alongside a remarkable 25% year-on-year increase in overall sales, demonstrates the company's resilience and market adaptability. With significant rises in both domestic and export volumes, aligned with a robust performance throughout the fiscal year 2023-24, Bajaj Auto's strategic positioning and operational expertise position it strongly for continued success in the dynamic automotive landscape.