India’s two-wheeler and three-wheeler manufacturer Bajaj Auto’ reported a jump of 127pc in Q1 FY2022 (April-June) with 1mn units sold. Q1 was relatively weaker than the previous quarters. Sales recovery made over the previous three quarters was offset by a weak performance in Q1 as the company struggled with the second wave of COVID-19, stated the company release.
The company reported that an increase in the cost of raw materials resulted in lower operating margins in the quarter.
Sales volume in Q1 FY2022 was around 1mn units, up by 127pc from a year ago. Q1 2022 was affected by the second wave, whereas, Q1 2020 was impacted by the initial effects of the pandemic. Thus the two quarters are not strictly comparable, according to the company.
In the domestic market, 342,552 units were sold in Q1, 84pc higher than last year. Commercial vehicles sales rose to 14,000 units, up 176pc from a year ago.
Around 648,877 units were sold in various international markets in Q1, which is 158pc higher than last year, despite the shortage of containers.
Bajaj Auto expects domestic two-wheelers sales to be flat in FY2022, while exports are likely to hit an all-time high, according to local media reports. They also expect pent-up demand to drive Q2 retail sales.