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Bajaj Auto's September sales rise 5% to 5.38 lakh units, missing forecasts as domestic volumes fall 9%
Our read
Exports keep Bajaj Auto's volumes growing, but unless domestic sales recover in the festive season the Q2 FY27 results are likely to show a weaker home market than the Street had hoped.
For operators
With Bajaj's domestic volumes down 9% while exports grew 32%, dealers and retail partners should expect tighter domestic allocation and promotional pressure, so they should watch inventory and financing offers closely as the quarter closes.
Watch
Domestic commentary and outlook on the Oct. 27 Q2 FY27 results call
Ask next
How do Bajaj Auto's results compare with its rivals?The report,
Bajaj Auto sold 5,38,443 units in September 2026, up 5% year on year, below the expected 11% to 12%. Domestic sales fell 9% to 2.94 lakh units while exports rose 32%. Q2 FY27 results are due on Oct. 27, 2026.
- September 2026 total sales5,38,443 units
- September 2026 domestic sales2.94 lakh units
- September 2026 exports2.43 lakh units
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Reported figures
From the report. Source details below
| September 2026 exports: | 2.43 lakh units |
|---|
Why it matters to operators
Bajaj's growth now leans on exports (+32%) while its home market shrinks, which points to rising exposure to overseas demand and currency and suggests that any partnership, distribution or domestic-share deals should be judged against that imbalance.
What to watch next
- October domestic dispatches against September's 2.94 lakh units
- Export growth holding near September's 32% rise
- Rivals' festive-season sales and registration data
Likely next moves
Our read of what comes next — analysis, not reported by the source.
- Bajaj Auto management is likely to present the domestic decline as temporary and highlight export strength when the board meets on Oct. 27 to consider Q2 FY27 results.
- Sell-side analysts are likely to trim near-term domestic volume estimates after the miss against the 11% to 12% growth expected, while crediting the 32% export rise.
- Rival two-wheeler makers may push festive-season offers to win domestic buyers, which would test Bajaj Auto's share in a market where its volumes fell 9%.
- Domestic customers are likely to delay purchases until festive-season deals, which would keep October retail volumes uneven.
- Bajaj Auto is likely to keep prioritising export allocation while overseas demand runs well ahead of domestic demand.
The source
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