Bajaj Auto shares drop as March sales fall 11%

Indian two-wheeler and three-wheeler manufacturing company, Bajaj Auto on Monday put out its March auto sales figures that fell 11% to 272,197 units in March.

Shares of the company were trading down 0.70% to Rs 2,787.95 per share at 0951 hours on BSE Sensex on Monday.

Local motorcycle sales fell as much as 14% in March to 151,449 units while its domestic commercial vehicles were down 35% to 17,830.

The company said that total auto sales at 272,197 unit in March as against 305,800 units in the corresponding period last year.

Domestic sales of Bajaj Auto’s commercial vehicles as well as motorcycles dropped to 17% year-on-year to to 169,279 units from 204,281 units last year.

Exports of the company increased 1% to 102,918 units as against 101,519 units in March 2016.

FY17 sales drop was 6% YoY to 36.7 lakh units as against 38.9 lakh in the April to March period of 2016.