Exports demand likely to keep Bajaj Auto's shares under pressure

While domestic 2W will grow by 7-8 per cent (13 per cent up in motorcycle volumes in FY25 till August), there's weakness in the 100cc segment with low single-digit growth

Investors will have to weigh conflicting information about Bajaj Auto. On the exports front, Bajaj is under pressure in Bangladesh and Africa. On the domestic front, it could ride improvement in rural demand and new launches but it also has to cope with competitive intensity and a high base.

The management projects 7-8 per cent volume growth in domestic 2W in financial year 2025 (FY25) with moderation in H2FY25 due to a high base Y-o-Y. In exports, good demand in Latin America and ASEAN is offset by slowdowns in Africa and Bangladesh. The 3W electric vehicles in