Bajaj Auto

Bajaj Auto expects October sales to surpass September performance, driven by GST cuts, pent-up demand, and improved customer sentiment. Executive Director Rakesh Sharma reported the company's best Navratri sales in five years, with September showing sharp growth in the final nine days after initial purchase delays due to GST announcements. The motorcycle market is experiencing uptrading, with entry-level bikes' share dropping from 55% to 48% over five years as customers opt for higher-capacity models. Bajaj Auto absorbed the GST rate increase from 28% to 40% on motorcycles above 350cc, maintaining stable prices for KTM and Triumph models to protect premium brand momentum. The company achieved record quarterly sales in Latin America and is growing at 1.5 times the industry rate in key export markets, with over 30 countries contributing 80% of global business. Dollar appreciation is supporting export margins. For the medium term, Sharma noted that while GST cuts improve momentum, inflation, rupee volatility, and regulatory costs like mandatory ABS could offset some benefits, with the real demand test expected in January-February after festive season normalization.

Bajaj Auto reported good sales performance during the Navratri period. The company has maintained prices for its 350CC and above motorcycles. Management indicated that GST cuts are expected to boost October performance, with benefits anticipated by early 2026.

Bajaj Auto's total sales reached 5,10,504 units in September 2025, representing a 9% increase compared to 4,69,531 units in September 2024. Two-wheeler sales grew 8% to 4,30,853 units, driven by domestic sales rising 5% to 2,73,188 units and exports climbing 12% to 1,57,665 units. Commercial vehicle sales surged 15% to 79,651 units, with exports jumping 67% to 27,587 units while domestic sales declined 1% to 52,064 units. For the April-September period, total sales increased 4% to 24,05,357 units. Two-wheeler year-to-date sales grew 2% to 20,17,778 units, with domestic sales down 8% but exports up 17%. Commercial vehicle sales for the period rose 14% to 3,87,579 units, with exports growing 51%.