Bajaj Auto has addressed concerns about its Venezuelan operations, confirming that exports to the crisis-hit South American nation account for less than 1% of the company's total overseas shipments. The clarification comes amid political turmoil following the US capture of Venezuelan President Nicolas Maduro.

Export Performance and Market Presence

Rakesh Sharma, Executive Director at Bajaj Auto , acknowledged the company's presence in Venezuela while emphasizing its limited scale. "We do export to Venezuela. Pulsar and Boxer are very popular, but these exports are less than 1 per cent of our total exports," Sharma stated when responding to queries about potential operational implications.

The following table highlights Bajaj Auto's overall export performance:

Strong Overall Export Growth

Despite regional uncertainties, Bajaj Auto demonstrated robust export performance during the April-December period of FY26. The company's total exports reached 16,39,971 units, marking a significant 19% increase compared to 13,73,595 units in the corresponding period of the previous year.

Industry Response to Venezuelan Crisis

The political situation in Venezuela has prompted Indian automotive companies to assess their exposure to the market. TVS Motor Company, another major Indian automaker, confirmed it has no meaningful presence in Venezuela, indicating limited industry-wide exposure to the crisis-affected nation.

Market Diversification Strategy

Bajaj Auto's minimal dependence on the Venezuelan market reflects the company's diversified export strategy across multiple international markets. The strong overall export growth of 19% demonstrates the company's ability to maintain momentum despite regional challenges, with popular models like Pulsar and Boxer finding acceptance across various global markets.

Bajaj Auto shares experienced a decline of 3% to ₹9,311.00 on January 2, 2026, as investors reacted to the company's December sales performance. Despite strong export numbers and overall sales growth, the modest increase in domestic two-wheeler sales appears to have weighed on investor sentiment.

December Sales Performance

The two-wheeler manufacturer reported mixed results for December, with total vehicle sales demonstrating strong growth while domestic two-wheeler sales showed modest improvement. The company's performance across different segments varied significantly, highlighting the diverse nature of its business operations.

Strong Export Performance Drives Growth

The company's export performance emerged as a key highlight, with two-wheeler exports registering a robust 24% increase to 1.78 lakh units compared to 1.43 lakh units in December of the previous year. Commercial vehicle exports performed even better, recording a 32% surge to 22,311 vehicles, significantly outpacing domestic commercial vehicle sales growth of 9%.

Q2 FY26 Financial Highlights

Bajaj Auto's quarterly financial performance demonstrated strong momentum across key metrics. The company achieved record-breaking revenue levels while maintaining healthy profit margins.

Quarterly Sales Trends

The Q2 FY26 results revealed contrasting trends between domestic and export markets. While domestic two-wheeler sales declined 6% YoY to 5,96,576 units from 6,36,801 units, they showed sequential improvement with 13% QoQ growth from 5,29,344 units. Commercial vehicle sales in Q2 grew 3% YoY to 1,44,217 units compared to 1,39,910 units in the previous year.

Export revenue grew 35% YoY across all regions and vehicle categories, with the company exporting 5,53,327 vehicles in Q2, representing a 24% YoY increase and 16% QoQ growth. This export performance contributed significantly to the company's record revenue from operations, which exceeded ₹15,000.00 crore for the first time, driven by an improved vehicle mix and best-ever spare parts sales.