Bajaj Auto skids 4% on disappointing May sales
Bajaj Auto sold more than 2.75 lakh units in May 2022 as compared to 2.71 lakh in the corresponding month last year, registering a marginal increase of 1%.
Bajaj Auto sold more than 2.75 lakh units in May 2022 as compared to 2.71 lakh in the corresponding month last year, registering a marginal increase of 1%.
Automakers believe the Covid-19-induced lockdown proved to be a major contributing factor in building demand for passenger vehicles.
The slowdown-hit sector takes a further hit as the nationwide lockdown hits demand. Auto sales fall 45% in March, SIAM data shows.
The commercial vehicles segment suffered the steepest fall at 32.90%. The latest worry for the industry is the disruption in the supply of auto parts from China due to the coronavirus outbreak.
Sales of passenger vehicles, which showed marginal growth in October, also fell last month.
Sales of passenger cars—the largest segment by volumes—fell 2.65% to 179,389 units in January this year from 184,264 units a year ago.