Motorcycle sales have declined by 11% while CV sales have declined by 81% in July 2020
Bajaj Auto has revealed sales results for the month of July 2020. During the past month, the company sold 1,54,474 units in domestic markets (-11 percent) while exports stood at 86,082 units (-43 percent). Total two wheelers sold in July 2020 dipped 26 percent to 2,38,556 units as against 3,22,210 units sold in July 2019. Pulsar continues to be best-seller for Bajaj, while Platina and CT100 also posted decent sales.
Where commercial vehicle sales were concerned, the company sold 6,502 units in domestic markets while 10,774 units were exported in July 2020. Where both these were concerned, the company noted de-growth of 81 percent and 57 percent respectively with total commercial vehicle sales down 71 percent to 17,276 units as against 59,320 units sold in the same month of the previous year. Total domestic sales along with exports were at 2,55,832 units.
It was also in year to date sales that the company suffered de-growth across both two wheelers and commercial vehicles. In the two wheeler segment, domestic sales dipped 57 percent to 3,38,455 units in the period April to July 2020, as compared to 7,81,914 units sold in the same period of the previous year.
YTD Exports fell 52 percent to 3,00,030 units, down from 6,22,923 units sold during April to July 2020 taking total 6,38,485 units, down 55 percent as against 14,04,837 units sold in the corresponding period of 2019. The effects of COVID-19 pandemic which led to a lockdown in the country from March 24 had a catastrophic effect over sales not only of Bajaj Auto Limited but across every two and four wheeler automaker in the country.
Commercial vehicle domestic sales in the past quarter stood at 11,784 units, down as much as 90 percent when compared to 1,20,709 units sold in the April to July 2019 quarter. Exports also dipped 53 percent to 48,666 units down from 1,03,158 units with total commercial vehicle sales down 73 percent to 60,450 units sold in the April to July 2020 period as against 2,23,867 units sold in the corresponding period of the previous year.
Total YTD domestic sales and exports of both two wheelers and commercial vehicles, during the period April to July 2020, dipped 57 percent to 6,68,935 units as compared to 16,28,704 units sold in the corresponding period of the previous year.
Bajaj Auto plans to reduce the number of variants on offer in the entry level motorcycle models, by one third. Bajaj also seeks to reduce working capital burden on its dealers who are facing tough times during the present pandemic situation in the country. The company sells the Platina and CT brands in the 100-110cc segments and between these two brands there are around 12 variants. This high number of variants add to the working capital burden on the company dealers and hence this decision.
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