Due to uncertain nationwide lockdown, commercial vehicles domestic sales have been significantly affected and have dropped to 81 percent, today. Following it, the exports of commercial vehicles also stood at 57 percent. For instance, if we compare it with last year’s report where the sales was 170,978 units in the month of July, this year, during the same period, it stood at 1,52,474 units.
July sales this year have been cruel to Bajaj Auto which has reported 33 percent decline. During the same period last year, 2,55,832 units were sold, but this year they dropped down to only about 381,530 units.
However, the company has been registering a good amount of traction with the rise in the demand for two-wheelers; Pune-based company sold about 2,78,097 units last month (June) this year.
According to Soumen Ray, CEO at Bajaj Auto, the company has been witnessing a great demand increase in the two-wheelers segment across both the national and international market. While if we talk about the company’s export, it stood at 96,856 this month (July).
However, the three-wheeler segment needs more time to pick the pace at the current juncture.
Today, slowly industries are steadily moving towards a slow recovery after the nationwide lockdown. As with most of the industry segments today, Bajaj Auto also reported a 31 percent decline in auto sales in the month of June.
Recently, the company has also reported a fall of 53 percent in profit in April-June quarter of FY21 at INR 528 crore; last year it was about INR 1,125.67 crore. as against Rs 7,755.82 crore in the same period last year, Total revenue from operations stood at Rs 3,079.24 crore in Q1.