Bajaj Auto sales drop 18% in January; shares slip

Shares of Bajaj Auto dropped after the company reported 18% drop in January sales (including both motorcycles and commercial vehicles) to 2,41,917 units as against 2,93,939 vehicles in January last year. 

At 1021 hours the shares of the company were trading at Rs 2836.85 per piece, down 0.69% or Rs 19.80 on BSE. 

The total exports decreased by 19% to 1,06,729 vehicles from 1,32,069 vehicles in January last year. On domestic front, the total sales were 1,35,188 vehicles in January 2017 as compared to 1,61,870 vehicles sold in January 2016. 

The company in a regulatory filing said that it sold 1,191803 units of motorcycle in month of January in the domestic market (excluding exports), down 15% from 1,40,853 units of motorcycle sold in January, 2016.

The exports of motorcycles in the month of January stood at 92,021 units, down 18% from 1,12,135 units on year-on-year basis. 

The total sales of motorcycle dropped by 16% to 2,11,824 units in last month as against 2,52,988 units during the same period last month. 

On the commercial vehicle front, the total sales declined by 27% to 30,093 vehicles in January, 2017 as against 40,951 units in January, 2017. Domestically, the company sold 15,385 units of commercial vehicle, as against 21,017 units last year in January a drop of 27%. 

The exports of commercial vehicle decreased by 26% to 14,708 units from 19,934 units on year-on-year basis.