Bajaj Auto sales drop 70% in May

Bajaj Auto reported 70% decline in total vehicles sales to 1.27 lakh units in May 2020 as against 4.19 lakh units in May 2019.

Sales numbers were dented amid nationwide lockdown due to the outbreak of COVID-19. The nationwide lockdown was first announced by Prime Minister Narendra Modi on March 24 for 21 days in a bid to combat the Coronavirus pandemic. It was first extended till May 3 and again till May 17. The fourth phase of the lockdown ended on 31 May. The Government has now announced for a phased-wise reopening of the economy from 1 June 2020.

Bajaj Auto registered a 69% fall in the two-wheeler sales to 1.12 lakh units in May 2020 over 3.65 lakh units in May 2019. Sale of commercial vehicles slumped 74% to 14,330 units in May 2020 as compared to 54,167 units in May 2019. The sales numbers were announced before market hours today, 2 June 2020.

The company posted recorded zero domestic sales in April 2020. It however, exported 32,009 units of 2-wheelers and 5,869 units of commercial vehicles during the month.

Bajaj Auto's consolidated reported net profit fell 3.9% to Rs 1,353.99 crore on 8.5% decline in net sales to Rs 6,610.90 crore in Q4 March 2020 over Q4 March 2019.

Shares of Bajaj Auto were trading 0.44% higher at Rs 2769.20 on BSE. The scrip was trading in the range of Rs 2731.65 to Rs 2813.80 so far during the day.

Bajaj Auto manufactures of motorcycles, three-wheelers and parts.

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