Two wheeler major Bajaj Auto Ltd (BAL) has witnessed a rather muted growth in motorcycle sales during August with the sales going up by just 2 per cent compared to the same month in 2013.
However, its commercial sales vehicles surged by 56 per cent during last month as against the same month in the previous year, with the company expressing optimism that the total sales (motorcycles and CVs) during September will touch the 4 lakh units mark.
In a communication to the stock exchanges, BAL said that it sold 2,84,302 motorcycles during August 2014 as compared to 2,78,583 motorcycles during August last year, a 2 per cent growth. Its two-wheeler model Discover recorded a 16 per cent growth in sales to 93,000 units during last month.
The sale of commercial vehicles surged to 52,538 units during August this year as against 33,605 units in the same month last year, a 56 per cent increase. The August sales this year was the highest for any month in the commercial vehicles segment for BAL. The company said that its total sales during last month was 3,36,840 units as compared to 3,12,188 units in the corresponding month last year, marking an 8 per cent increase. BAL said it expected the September sales to be 4,00,000 units.
Exports out of the above constituted 1,75,127 units during August this year as compared to 1,44,160 units in the same month last year, a 21 per cent jump and the exports for last month were the highest for any month.
In the April-August period this year, the motorcycles sales at 14,27,001 units were up by 3 per cent compared to 13,85,562 units in the corresponding period last year. Sales of commercial vehicles were up by 16 per cent to 2,17,561 units (1,87,228 units in April-Aug 2013). Exports witnessed a smart increase by 28 per cent to 7,86,849 units in April-Aug 2014 as against 6,16,746 units during the same period last year.
Shares of BAL are trading at ₹2,294.55, up by ₹34, on the NSE.