Bajaj Auto sales slid almost 38% in March when the COVID-19 lockdown was in place for just a week

• Bajaj Auto is set to announce its fourth-quarter results on Wednesday (May 18) for the quarter ending March 2020.
• It sold 2.42 lakh units in March 2020, 38% lower than 3.93 lakh units in March last year.
• The share price declined over 20.68% since the beginning of the fourth quarter, till date.

India’s largest two-wheeler and three-wheeler manufacturer Bajaj Auto is set to announce its fourth-quarter results on Wednesday (May 20) for the quarter ending March 2020. Although the coronavirus lockdown period was just for one week in the relevant period, Bajaj’s sales slid almost 38% due to bad market sentiment.


It sold 2.42 lakh units in March 2020 as against 3.93 lakh units in March last year. Analysts at Axis Securities -Equity Research said, “We expect volumes to get impacted in FY21 also as COVID 19 will likely disrupt 3-6 months of sales before a pickup resumes.”

On March 22, the government announced a nationwide lockdown to deal with the COVID-19 pandemic and Bajaj to halt operations until May 5 when the Chakan plant, in the outskirts of Pune reopened.


Since the beginning of 2020, Bajaj Auto’s share price has taken a massive hit because of the coronavirus pandemic, subdued sales and shutting down of showrooms and factories. The share price declined over 20.68% since the beginning of the fourth quarter, till date. The stock recovered over 5.23% since the opening of the Chakan plant on May 5.

From the coronavirus outbreak to the BSVI transition, all has brought only further bad news for automakers.

After a year of subdued sales, auto companies in India were looking forward to recovering in 2020. Manufacturers were being forced to up the emission standards to BS-VI by regulators, and buyers were waiting for the new models to hit the street. But then came the coronavirus pandemic and as markets shut down across the world, most auto manufacturers reported zero domestic sales in the month of April including Bajaj Auto.

However, it exported a total of 32,009 two-wheelers to the overseas markets last month, which is down by a whopping 91% as compared to 4,23,315 units sold in April last year.

Moody’s Investor Service, the credit rating agency on Wednesday (May 13) said it expects global auto sales to fall 20% in 2020, more than its previous estimate of about 2.5% drop due to coronavirus concerns. It also retained a “negative” outlook on the sector and said it expects a healthy rebound in global sales in 2021 with a growth of 11.5%.

“Beyond next year, the recovery in auto demand is likely to continue, but at a slower pace. We expect mid-to-high single-digit sales growth in 2022, bringing total global unit sales up to around 85 million to 88 million units, still short of the 2019 sales level of 90.2 million units, much less the recent peak of 95.3 million units in 2017,” Moody’s said.

Bajaj Auto also recently hiked prices for the Husqvarna Svartpilen 250 and the Vitpilen 250 motorcycles by ₹4,736. The Husqvarna Svartpilen and Vitpilen 250 were launched in India just weeks before the nationwide lockdown came into action. However, Bajaj Auto managed to sell 410 units in March. Apart from Husqvarna bikes, the company has also hiked prices of all the KTM bikes in India.

SEE ALSO: Bajaj Auto total sales down 38% in March
Yulu receives USD 8 mn funding from Bajaj Auto
Coronavirus cases in India state wise