Bajaj Auto sees 23% decline in June sales; shares tumble

Key Highlights: 

• Bajaj Auto sold 244,878 units in June 2017
• Domestic sales down 34% to 126,975 units
• Bajaj Auto sold 888,434 vehicles in Q1FY18

Bajaj Auto registered 23% decline in its June 2017 sales number. The company's sales stood at 244,878 units compared to 316,969 sold in the similar month of the previous year. 

Domestic sales declined by 34% to 126,975 units in this month as against 193,717 units sold a year ago same month. Also exports dropped by 4% with sales of 117,903 units in June 2017 versus 123,252 units in June 2016. 

Performance of motorcycle segment was down 25% with sales of 204,667 units this month from 273,298 units in June 2016. 

Meantime, a total of 40,211 units of commercial vehicles were sold in June 2017, a down of 8% compared to 43,671 units in June 2016. 

In the first quarter of the financial year 2017-18 (Q1FY18), Bajaj Auto saw sales of 888,434 vehicles, declining by 11% as against 994,733 vehicles in the corresponding period of the previous year. 

Share price of Bajaj Auto has tumbled by over Rs 36 or 1.30% on BSE, trading at Rs 2,754.25 per piece at 1009 hours.