Bajaj Auto Ltd has witnessed a sharp decline in sales of both motorcycles and commercial vehicles during December 2013, indicating that economic recovery is still some distance away.
What came to the rescue of the company was the sharp spike in exports of 20 per cent compared to the corresponding month in 2012.
In its filings with the stock exchanges, the company said that it had sold 2,60,645 motorcycles during December 2013 compared with 2,98,350 units in the same month of the previous year, a drop of 13 per cent.
Commercial vehicles sales were down 19 per cent to 37,131 units from 45,596 units. Total sales were down 13 per cent to 2,97,776 units (3,43,946).
However, exports witnessed a sharp jump to 1,50,753 units last month against 1,26,016 vehicles in December 2012.
Cumulative sales, exports
On a cumulative basis, during the first nine months of the current fiscal (April-December), the total sales were down 10 per cent to 29,34,295 units compared with 32,55,920 vehicles during the same period of the previous FY (2012-13).
Exports out of this on a cumulative basis were flat at 11,86,099 units in the first nine months of the current fiscal compared with 11,82,152 units during the same period in the previous FY.
Shares of Bajaj Auto were up by 0.13 per cent at Rs 1,901 on the BSE in the morning trade.