Bajaj Auto Sept Sales up 5% YoY to 5.38 lakh units, miss estimates
- Total sales reached 5,38,443 units in September 2026, up 5% YoY
- Volume missed the market estimate of 570,000 units
- Exports rose 32% to 2,43,987 units, offsetting a 9% domestic decline
- YTD sales grew 24% to 29,87,135 units driven by strong overseas demand
*this image is generated using AI for illustrative purposes only.
Bajaj Auto reported total sales of 5,38,443 units for September 2026, marking a 5% year-on-year increase compared to the same month last year. This volume fell short of the market estimate of 570,000 units.
The growth was driven primarily by a strong performance in international markets, where exports rose 32% to 2,43,987 units. This surge in overseas demand helped compensate for a 9% decline in domestic sales, which stood at 2,94,456 units for the month.
Monthly Sales Performance
The company’s two-wheeler segment recorded total sales of 4,51,494 units, up 5% YoY. While domestic two-wheeler sales fell 12% to 2,39,771 units, exports in this category jumped 34% to 2,11,723 units. The commercial vehicle segment showed robust growth across both markets, with total sales rising 9% to 86,949 units. Domestic CV sales increased 5% to 54,685 units, while CV exports grew 17% to 32,264 units.
| Segment | Sep-26 Units | Sep-25 Units | Change (%) |
|---|---|---|---|
| Two-Wheelers (Domestic) | 2,39,771 | 2,73,188 | -12 |
| Two-Wheelers (Exports) | 2,11,723 | 1,57,665 | 34 |
| Commercial Vehicles (Domestic) | 54,685 | 52,064 | 5 |
| Commercial Vehicles (Exports) | 32,264 | 27,587 | 17 |
| Total Sales | 5,38,443 | 5,10,504 | 5 |
Year-to-Date Trends
For the period April to September 2026, Bajaj Auto clocked total sales of 29,87,135 units, reflecting a 24% increase over the corresponding period last year. The cumulative export figure reached 15,10,701 units, up 47% YoY, indicating a significant shift in the company's revenue mix towards international markets. Domestic sales for the six-month period grew moderately by 7% to 14,76,434 units.
What the Numbers Show
A clear divergence is visible between domestic and international performance. While the overall volume grew by 5% in September and 24% YTD, this growth is entirely dependent on export momentum. The 32% YoY jump in monthly exports and the 47% YTD surge contrast sharply with the 9% monthly decline in domestic volumes. This suggests that the company’s current top-line expansion is being fueled by overseas demand rather than domestic consumption recovery. Additionally, the actual reported volume of 5,38,443 units represents a shortfall against the consensus estimate of 570,000 units, highlighting that despite the YoY growth, the absolute performance lagged behind analyst expectations for the month.
Historical Stock Returns for Bajaj Auto
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -6.01% | -10.35% | -14.19% | +16.38% | +17.76% | +166.66% |
How might the 9% decline in domestic sales influence Bajaj Auto's pricing strategies or promotional activities in the upcoming festive season?
What specific geopolitical or trade policy developments could sustain or threaten the 32% surge in export volumes in the coming quarters?
Will the growing reliance on international markets expose Bajaj Auto to increased currency fluctuation risks, and how is the company hedging against this?
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