Shares of Bajaj Auto were trailing in the red on Friday morning after the company posted its sales number for November.
What Happened: The company’s total sales came in at 4.03 lakh units, a 31% increase from the 3.06 lakh units sold in the same month last year. The number also beat brokerage firm Nomura’s estimates of around 3.79 lakh.
Total Domestic sales grew by 69% to 2.57 lakh units compared to the 1.52 lakh units sold in the same period last year. Total exports were at 1.45 lakh, down around 6% from the 1.53 lakh vehicles sold in Nov, 2022.
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The company’s two-wheeler segment registered a 33% year-on-year growth in November at 3.49 lakh units. Domestic two-wheeler sales surged up 77% to 2.18 lakh units as compared to the 1.23 lakh units sold in Nov, 2022.
In the month of November, the Commercial vehicles were at 53,955 units, reflecting a 21% growth compared to the same period last year. The number was mainly driven domestic sales that amounted for 39,147 units, a 34% increase compared to the corresponding figures from November 2022, which stood at 29,226 units. On the export front, the company recorded sales of 14,808 units, slightly down by 3% from the previous year’s November export numbers of 15,206 units.
Price Action: Bajaj Auto’s share price was down 0.99% to trade at ₹6,030 in early trade on Friday.
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