Shares of Bajaj Auto were trading in the red and 1% below on 1 December despite the company reporting a 31% growth in its total vehicle sales in November.

The Pune-based company reported its total vehicle sales at 4,03,003 units in November, which is a 31% year-on-year growth from Rs 3,06,719 vehicles sold in the same month of the previous fiscal year.

The total domestic sales of two-wheelers and commercial vehicles grew significantly by 69% YoY to 2,57,744 units as against 1,52,883 69 units recorded in the year-ago month.

However, the company’s export segment recorded a 6% YoY decline to 1,45,259 units against 1,53,836 vehicles exported in November 2022.

The two-wheeler’s domestic segment sales registered a whooping 77% YoY growth to 2,18,597 units against 1,23,657 units sold in November 2022, whereas its exports fell 6% YoY to 1,30,451 units.

The total two-wheeler sales during the month stood at 3,49,048 units, marking a 33% growth from vehicles sold in the same month last year. The total commercial vehicle sales stood at 53,955 units in November 2023.

At 3:00 pm, the shares of Bajaj Auto were trading 0.75% lower at Rs 6,044.85 on NSE.