Can Bajaj Auto’s Export Strength Continue to Drive Growth in FY26?
About Bajaj Auto Ltd
Bajaj Auto Ltd, India’s second-largest two-wheeler and three-wheeler manufacturer, reported a robust sales performance in October 2025. The company’s diversified global presence and consistent export momentum have helped it outperform domestic peers despite a slowdown in rural demand.
Bajaj Auto’s October sales data underscores its export-driven business model, with strong traction in key African and Latin American markets. The company continues to expand its reach while maintaining cost discipline and focusing on premium offerings under Pulsar, Dominar, and Chetak EV brands.
October 2025 Sales Highlights
| Segment | Units Sold (Oct’25) | YoY Change | Commentary |
|---|---|---|---|
| Total Sales | 5,18,170 | +8% | Strong export momentum |
| 2-Wheelers | 4,42,316 | +7% | 11% export growth in key markets |
| Commercial Vehicles | 75,854 | +16% | 62% surge in export volumes |
| Domestic Sales | 3.14 lakh | +3% | Steady demand from urban regions |
| Exports | — | +16% | Recovered strongly across markets |
| YTD (Apr–Oct’25) | — | +4% | Exports up 20%, domestic -5% |
Total Sales: Bajaj Auto achieved overall sales of 5.18 lakh units in October 2025, reflecting an 8% year-on-year increase, supported by higher export volumes.
2-Wheelers: Two-wheeler sales rose 7% YoY, with export sales climbing 11%, led by the Pulsar and Boxer brands. The Chetak EV continues to gain traction in select Indian cities.
Commercial Vehicles: Segment volumes grew 16% YoY, driven by robust overseas demand, particularly from Bangladesh and African markets. Export contribution to total CV sales rose sharply to over 60%.
Domestic Sales: Domestic two-wheeler demand remained steady with 3% growth, supported by festive buying and continued recovery in urban pockets.
Exports: Exports jumped 16% YoY, marking a strong rebound from last year’s currency-led headwinds. The company expects double-digit export growth to sustain into FY26.
YTD Performance: Between April and October 2025, total volumes rose 4% YoY, with 20% growth in exports offsetting a 5% decline in domestic sales — confirming Bajaj’s strength as an export-led player.
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Peer Comparison — October 2025 Performance
| Company | YoY Growth | Key Driver |
|---|---|---|
| Bajaj Auto | +8% | Exports rebound |
| Hero MotoCorp | +4% | Festive demand |
| TVS Motor | +7% | Premium motorcycle sales |
Bajaj Auto remains better positioned than peers due to its global footprint, lean operations, and focus on product diversification in both ICE and EV categories.
Strengths
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Weaknesses
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Bajaj Auto’s strengths in export markets continue to act as a counterbalance to domestic cyclicality, positioning it well for a demand-led rebound in FY26.
Opportunities
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Threats
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Bajaj Auto’s diversified export exposure and timely EV investments offer an attractive blend of stability and growth in FY26.
Valuation & Investment View
- Short-term: Stock may consolidate around ₹9,400–₹9,600 amid steady sales momentum.
- Medium-term: Margins and exports to support 10–12% EPS growth.
- Long-term: Global presence, EV scalability, and strong balance sheet make it a core auto play.
Traders tracking sector trends can explore setups through the Sector Pulse Signal
Investor Takeaway
Indian-Share-Tips.com Nifty Expert Gulshan Khera, CFP®, who is also a SEBI Registered Investment Adviser, notes that Bajaj Auto’s consistent export outperformance and disciplined capital allocation strengthen its case as a preferred play in the two-wheeler space. Explore more such insights at Indian-Share-Tips.com, which is a SEBI Registered Advisory Services.
Related Queries on Bajaj Auto
- Can Bajaj Auto Sustain Its Export-Led Growth in FY26?
- How Are Bajaj’s Commercial Vehicle Exports Shaping the Outlook?
- Will the EV Transition Under Chetak Drive Margins Higher?
SEBI Disclaimer: The information provided in this post is for informational purposes only and should not be construed as investment advice. Readers must perform their own due diligence and consult a registered investment advisor before making any investment decisions. The views expressed are general in nature and may not suit individual investment objectives or financial situations.
