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Bajaj Auto (BAAUTO)
• Bajaj Auto had a lacklustre month of sales with volumes in both
the three-wheelers and motorcycle segment recording single digit
growth YoY. The sedate growth of 8.1% YoY can be attributed to
logistical problems during the month on the exports front, which
dipped 7.8% YoY
• Total volumes stood at 299,231 units, an increase of 8.1% YoY
and a higher than anticipated 19.3% decline on an MoM basis due
to slower exports and sedate growth post the festive euphoria
• The motorcycle segment grew 9.3% YoY and declined 19.6%
MoM due to the slowdown in sales post Diwali with Discover and
Pulsar clocking ~101,000 and ~83,000 units as the dealer stocking
process has slowed down leading to a cutback of ~60,000 units
• The three-wheeler segment witnessed a moderation in the
domestic and export market with flat YoY growth and 16.7% MoM
decline with a slower export offtake due to constraints
• The export markets witnessed lesser sales volumes due to the
logistics related problems, which delayed container shipments.
Exports were down 7.8% YoY and 17.7% MoM at 90,869 units. Its
contribution remained at 30.4% to total sales
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