Bajaj February 2024 Sales Surge, Two-Wheeler and CV Segments Drive 24% YoY Growth

Bajaj Auto has registered a 24 per cent year-on-year (YoY) increase in sales in February 2024. Growth was seen across both its two wheeler and commercial vehicle segments to 3,46,662 units last month, up from 2,80,226 units sold in February 2023. It was however, a MoM decline in total sales (2W + CV) from 3,56,010 units sold in January 2024.

Bajaj: YoY Sales Performance

YoY Sales Growth: Two Wheelers

• Bajaj Auto witnessed a significant YoY growth of 42% in domestic two-wheeler sales, with units increasing from 1,20,335 in February 2023 to 1,70,527 in February 2024.
• The export segment of two-wheelers also showed growth, albeit at a lower rate, with a YoY increase of 8%, from 1,15,021 units in February 2023 to 1,24,157 units in February 2024.
• Overall, total two-wheeler sales experienced a robust YoY growth of 25%, with units rising from 2,35,356 in February 2023 to 2,94,684 in February 2024.

YoY Sales Growth: Commercial Vehicles

• Bajaj Auto's domestic commercial vehicle sales grew by 10% YoY, with units increasing from 32,956 in February 2023 to 36,367 in February 2024.
• The export segment of commercial vehicles exhibited substantial YoY growth of 31%, from 11,914 units in February 2023 to 15,611 units in February 2024.
• Total commercial vehicle sales witnessed a notable YoY growth of 16%, with units rising from 44,870 in February 2023 to 51,978 in February 2024.

Overall YoY Sales Performance:

• Bajaj Auto's overall YoY sales performance was impressive, with total units increasing by 24% from 2,80,226 in February 2023 to 3,46,662 in February 2024.
• Domestic sales contributed significantly to this growth, with a YoY increase of 35%, while export sales also showed a healthy growth rate of 10%.

Bajaj: MoM Sales Performance

MoM Sales Growth: Two Wheelers

• Domestic sales for February 2024 amounted to 170,527 units, reflecting an 11.8% decrease compared to January 2024's 193,350 units.
• Export sales for February 2024 saw an increase, totaling 124,157 units, marking an 8.05% rise from January's 114,898 units.
• The combined sales of domestic and export 2-wheelers for February 2024 summed up to 294,684 units, showcasing a 4.4% decrease from January's 308,248 units.

MoM Sales Growth: Commercial Vehicles

• Domestic commercial vehicle sales in February 2024 reached 36,367 units, experiencing a marginal decrease of 0.8% compared to January's 36,693 units.
• Export sales of commercial vehicles surged significantly in February 2024, reaching 15,611 units, marking a substantial increase of 41.03% from January's 11,069 units.
• Overall, the combined sales of domestic and export commercial vehicles for February 2024 totaled 51,978 units, indicating an 8.82% increase from January's 47,762 units.

Total Sales Performance:

• Total domestic sales for February 2024 amounted to 206,894 units, witnessing a notable decline of 10.06% from January's 230,043 units.
• Export sales, however, showed robust growth in February 2024, reaching 139,768 units, which was a significant increase of 10.95% from January's 125,967 units.
• Overall, the total sales (2-wheelers + commercial vehicles) for February 2024 amounted to 346,662 units, marking a decrease of 2.62% compared to January's 356,010 units.

CarBike360 Says

Bajaj Auto's February 2024 sales surged by an impressive 24% year-on-year (YoY), driven by strong performance in both the two-wheeler and commercial vehicle segments, demonstrating sustained market growth.