Bajaj Auto slips over 4% on concerns of weak export sales

Analysts believe that exports are likely to remain under pressure in \near term, owing to weak macros, adverse currency movements and dollar availability issues in Africa, South Asia and Latin America

Shares of Bajaj Auto slipped 4.4 per cent to Rs 3,679.85 in Monday’s intra-day trade, on concerns of weaker export sales. The company will release its February sales data on Wednesday, March 1, 2023.

In January, the company’s total vehicle sales fell 21 per cent to 2.8 lakh units, due to weaker export sales. Total domestic sales, however, rose 16 per cent to 1.7 lakh units in the previous month as against 1.4 lakh units in January 2022. Exports, meanwhile, declined 47 per cent year-on-year to 1.1 lakh units. The company had shipped out a total of 2.1 lakh