Powered by all-round growth in exports and sales of motorcycles and commercial vehicles, Bajaj Auto Ltd registered the highest sales ever for any July, which helped the stock buck the Sensex meltdown in early morning trade today.
In a communication to the stock exchanges, the company said motorcycles sales, highest for any July, touched 3,18,095 units compared with 2,79,781 units in the same month last year, a growth of 14 per cent. The bigger and sportier Pulsar and Discover models contributed to 64 per cent of the sales.
The commercial vehicles sales too registered an impressive 18 per cent growth at 45,617 CVs sold against 38,634 vehicles in the same month last year. This month also marked the best month ever in three-wheeler sales.
Total sales of 3,63,712 vehicles (3,18,415 units) were the highest ever for any July for Bajaj Auto.
The company exported 1,43,996 units (1,06,794 units), a growth of 35 per cent.
The company's April-July 2011 performance was also in double-digits across segments. While sales of motorcycles were 12,81,146 units (11,08,172 vehicles), commercial vehicles' were 1,75,381 units (1,38,552 vehicles), a growth of 27 per cent.
Exports were up 33 per cent at 5,71,360 units.
Bajaj Auto shares were trading at Rs 1,485 on the BSE at 10.45 a.m., a fall of just Rs 3 from the previous day's closing price of Rs 1,488. Its strong July performance helped the stock hold itself though the overall market sentiment was weak with the Sensex shedding about 195 points.