Belying expectations that two-wheelers would buck the demand-slump because of tough economic conditions, Bajaj Auto Ltd has recorded a 15 per cent drop in motorcycle sales during November this year compared to the same month in 2012.
Its commercial vehicle sales also witnessed a 30 per cent decline.
In its filings with the stock exchanges, BAL said that it sold 2,78,703 motorcycles in November this year compared with 3,26,727 units in November 2012, a 15 per cent drop in sales.
The company had sold 31,888 units in the commercial vehicle segment against 45,466 units during November last year, a whopping 30 per cent fall in sales. Total sales fell to 3,10,591 units, a 17 per cent decline from 3,72,293 units in the same month a year-ago.
However on the export front, the company put up a better show last month with exports growing to 1,33,731 units compared with 1,24,115 units in November 2012, an 8 per cent growth.
Shares of BAL were trading at Rs 1953.15, a decline of Rs 11.75, on the BSE in the morning trade.