Bajaj Automobiles Sees Mixed Sales in October 2024
Domestic Decline, Export Growth
In October 2024, Bajaj Automobiles experienced an 8% decline in domestic two-wheeler sales, selling 2,55,909 units compared to 2,78,486 units in October 2023. This drop highlights challenges in the domestic market, influenced by economic conditions and consumer demand. However, the company’s overall two-wheeler sales, including exports, grew by 2% year-on-year, reaching 4,14,372 units, up from 4,08,144 units in 2023.
The growth is largely due to a 22% increase in two-wheeler exports, with 1,58,463 units sold internationally in October 2024, compared to 1,29,658 units the previous year. This strong export performance underscores the importance of Bajaj’s international market presence amid domestic challenges.
In the commercial vehicle segment, Bajaj reported a 6% decline in sales, with domestic sales dropping to 47,922 units from 51,132 units in October 2023. Despite these domestic setbacks, the robust export growth in the two-wheeler segment has helped balance the company’s overall sales performance.
Doubts Revealed
Bajaj Automobiles -: Bajaj Automobiles is a company in India that makes vehicles like motorcycles and scooters. They are one of the big companies in the automobile industry in India.
Domestic Sales -: Domestic sales refer to the number of vehicles sold within India. It means how many people in India bought Bajaj’s vehicles.
Export Growth -: Export growth means that Bajaj sold more vehicles to other countries outside India. This is important because it helps the company earn money from different parts of the world.
Two-wheeler -: A two-wheeler is a type of vehicle that has two wheels, like a motorcycle or a scooter. Bajaj makes many of these vehicles.
Commercial Vehicle -: Commercial vehicles are used for business purposes, like transporting goods or people. They are different from personal vehicles, which are used by individuals for personal travel.