Bajaj Auto’s domestic sales fall 9% in September as exports lift overall volumes
Bajaj Auto reported 5% sales growth to 5.38 lakh units in September 2026, as exports rose 32% and domestic sales fell 9%. Domestic two-wheeler sales declined 12%. April-September 2026 total sales grew 24% to 29.87 lakh units.
Read the source at CNBC-TV18 · CompaniesThe numbers
| September 2026 domestic sales: | 2.94 lakh units |
|---|---|
| September 2026 exports: | 2.44 lakh units |
Why it matters to operators and investors
Evaluate export-distribution partnerships to build on Bajaj Auto’s 32% export growth, while scrutinizing domestic channel investments amid the 9% home-market decline.
What to watch next
- Domestic two-wheeler sales versus the reported 12% decline.
- Export growth versus the reported 32% increase.
- Announcements of domestic discounts or dealer incentives.
- Dealer inventory and retail-registration trends.
- Overall volume growth versus the reported 5% increase.
Likely next moves
The desk's read of what comes next — analysis, not reported by the source.
- Bajaj Auto is likely to prioritize export fulfilment while overseas shipments remain its main source of volume growth.
- Bajaj Auto may introduce targeted domestic retail offers if two-wheeler sales remain weak, potentially putting pressure on per-unit realisations.
- Bajaj Auto may moderate domestic dealer shipments if retail sell-through fails to improve, limiting inventory accumulation but prolonging reported sales weakness.
The counter-case
Export growth masks weakening domestic volumes: the 12% drop in domestic two-wheelers could signal demand pressure or market-share losses. Overall volume growth may not translate into stronger earnings if discounting rises or export growth comes from less profitable markets.