Bajaj Auto May sales disappoint, fall 10% to 3.14 lakh units

Bajaj Auto said 2-wheeler sales slipped 10 percent to 2.77 lakh units, with domestic business down 13 percent and exports down 5 percent YoY.

Bajaj Auto May sales disappoint, fall 10% to 3.14 lakh units

Moneycontrol News

Two-wheeler maker Bajaj Auto disappointed the Street on Friday by reporting a 10 percent decline in total sales for the month of May.

The company sold 3.14 lakh units in May 2017 against 3.48 lakh units sold in same month last year, impacted by domestic as well as exports businesses.

Domestic sales during the month fell 15 percent to 1.74 lakh units while exports dropped 3 percent to 1.4 lakh units compared with same month last year.

Numbers were far lower than Nomura expectation of 3.45 lakh units for the month.

Bajaj Auto said 2-wheeler sales slipped 10 percent to 2.77 lakh units, with domestic business down 13 percent and exports down 5 percent YoY.

Total commercial vehicle sales during the month were down 9 percent at 36,641 units YoY, with domestic commercial vehicle sales down 28 percent at 17,524 units compared with same month last year. However, exports increased 20 percent compared with corresponding month of last year.

At 10:07 hours IST, the stock was quoting at Rs 2,820.00, down Rs 20.75, or 0.73 percent on the BSE.

[Source”cnbc”]