Bajaj Auto consolidated monthly sales continue to go down
Stock price continues to fall, reflecting the slowdown in the two-wheeler segment.
On 2nd March, Bajaj Auto Limited posted its monthly sales data for February 2022. Overall sales have been down on a year-on-year basis. The most affected segment was the two-wheeler domestic sales numbers. The company sold about 96,523 units of domestic 2-wheelers in February 2022 whereas it had sold 1.48 lakh units in February 2021. A decline of 35% can be seen in the two-wheeler segment.
However, the commercial vehicles segment showed a slight growth of 2% in the domestic market. It sold about 16,224 units in February 2022 against 15,877 units in February 2021. The exports market which has been a strong suit of Bajaj Auto Ltd had seen was almost the same as the previous year for two-wheelers but witnessed a decline of 23% in commercial vehicles. The total consolidated sales declined by 16% on a YoY basis.
Check out: Auto Sales in February 2022: Demand weakness continues; Mahindra & Mahindra witnesses strong domestic sales
The sales in January 2022 had reflected the continuation of the slowdown in the two-wheeler segment. The total consolidated sales in January were down by 15% on a YoY basis. The February 2022 sales witnessed a continuation of the same downtrend. The December quarter ended results presented a mix of both positives and negatives. The net sales had grown by 5% while the profit after tax had degrown by 27.4% on a sequential basis.
Bajaj Auto Limited is the flagship company of Bajaj Group and is one of the leading manufacturers of two-wheelers and three-wheeler vehicles. It is the world’s third-largest manufacturer of motorcycles and the largest manufacturer of three-wheeler vehicles globally.
Reacting to the monthly sales numbers, the stock is trading down by 2.15% today.
At 2:40 PM on March 3, 2022, the stock was trading at Rs 3,300. It has a 52-week high of Rs 4,347.95 and a 52-week low of Rs 3028.35.
Also read: Sterlite technologies unveil end-to-end 5G enterprise solution, share zooms 5%
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