Bajaj Auto's domestic sales rise 20% in July, stock price up

Bajaj Auto sold 20% more two-wheelers in July, the company said in a statement. 

The company said that its July sales in domestic market stood at 1,98,022 units as against 1,65,541 units in the same month of last year. However, exports slumped leading a decrease in its total sales for the month, at 3,29,833 units as against 3,30,231 units in July 2015. 

Total exports for the month stood at 1,31,811 declining by 20% from 1,64,690 units in July 2015.

The domestic sales was tapped by robust motorcycle sales performance. Around 1,74,324 units of motorcycle were sold, increasing 21% from 1,43,671 sold in July 2015.

On year-to-date (YTD), a total of 13,24,566 units have been sold, a decline of 1.39% compared to 13,43,260 in the same period of previous financial year.

By far, exports have declined by 22%, by selling only 5,02,460 vehicles YTD versus 6,41,186 vehicles last year.

Domestic sales have continued to outperform, by rising 17% with sales of more than 8,22,000 units year-to-date against 7,02,000 units in financial year 2016. 

The share price of Bajaj Auto soared y 15.05 points or 0.55% to Rs 2750.45.