Bajaj Auto, a cornerstone of India's automotive industry, once again demonstrated its growth capabilities in a competitive market, reporting a solid 9% year-on-year (YoY) increase in its total sales for September 2025. The performance was largely anchored by a surge in exports, even as the domestic market showed more modest growth.
However, despite these strong operational numbers, the Bajaj Auto share price ended the month with a negative return, raising important questions about the divergence between the company's fundamental performance and its market valuation. This analysis dives into the details of the September sales and the stock's contrasting performance.
Table of Contents
- How Did Bajaj Auto Perform in September 2025?
- Why Did the Bajaj Auto Share Price Fall Despite Strong Sales?
- Conclusion: A Mixed Picture for Investors
- Frequently Asked Questions (FAQs)
Bajaj Auto sold a total of 5,10,504 units in September 2025, a 9% YoY increase from the 4,69,531 units sold in September 2024. The company also saw a sharp 22.2% month-on-month (MoM) increase compared to the 4,17,616 units sold in August 2025, highlighting a strong pickup driven by festive season stocking and export demand.
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Check the detailed Bajaj Auto share price and company profile for insights on its financial performance and key fundamentals.
Two-Wheeler Sales
The two-wheeler segment, the backbone of the company's volumes, saw an 8% YoY growth, with total sales of 4,30,853 units.
| Sales |
Sep 2025 |
YoY Change |
| Domestic |
2,73,188 |
+5% |
| Exports |
1,57,665 |
+12% |
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Domestic sales grew by a modest 5%, reflecting a sluggish recovery in India's rural and entry-level motorcycle segments.
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Exports were the real highlight, growing by a strong 12% as demand from key markets in Latin America and Africa remained robust.
See how Bajaj Auto compares with other auto stocks in the Nifty Auto index for a sector-wide perspective.
Commercial Vehicle Sales
The commercial vehicle (CV) segment, primarily three-wheelers, grew by an impressive 15% YoY, driven almost entirely by exports.
| Sales |
Sep 2025 |
YoY Change |
| Domestic |
52,064 |
-1% |
| Exports |
27,587 |
+67% |
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Domestic CV sales remained flat with a 1% dip, highlighting persistent challenges in the small commercial vehicle space in India.
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Exports, in stark contrast, surged by an incredible 67%, underscoring Bajaj Auto's dominance in international markets where its three-wheelers are a popular mode of affordable transport.
Understand Bajaj Auto’s positioning in the growing Nifty EV and new age automotive sector.
Despite the upbeat sales numbers, the Bajaj Auto share price told a different story in September 2025.
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The stock hit a monthly high of ₹9,442.65 on September 8 but saw significant profit-booking thereafter, closing the month at ₹8,675.85.
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This resulted in a negative return of over 3% for September, even as the company posted a strong 22.2% month-on-month sales jump.
This divergence suggests that investors are looking beyond just headline sales numbers and are weighing broader concerns such as:
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Valuation: The stock may have been perceived as fully valued after its prior run-up.
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Muted Domestic Demand: The slow growth in domestic sales, particularly in the high-volume two-wheeler segment, remains a concern for the market.
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Margin Pressures: Potential cost pressures from raw materials and a competitive market environment.
Review the Bajaj Auto sales August 2025 sales report to understand the month-on-month performance and export trends.
September 2025 was a month of strong operational performance for Bajaj Auto, with total sales crossing the 5.1 lakh mark, driven largely by its export prowess. However, the disconnect between the company's solid sales growth and the negative performance of the Bajaj Auto share price indicates that the market is cautious.
Going forward, the company's ability to sustain its export momentum while reviving rural demand in India will be crucial. For long-term investors, Bajaj Auto remains a fundamentally strong company with a dominant market position, but near-term returns may hinge on a broader and more balanced recovery across all its key markets.
Watch the full documentary on Bajaj Auto to get a comprehensive view of its journey and market strategy.
Q1. How did Bajaj Auto perform in September 2025 compared to last year?
A1. Bajaj Auto reported total sales of 5.1 lakh units, a 9% year-on-year growth. The increase was primarily driven by strong export performance in both two-wheelers and commercial vehicles.
Q2. Which segment was the main growth driver for Bajaj Auto?
A2. Exports were the main growth engine, with two-wheeler exports growing by 12% and commercial vehicle exports surging by an impressive 67% year-on-year.
Q3. Why did the Bajaj Auto share price fall in September despite strong sales?
A3. The stock's decline of over 3% in September, despite a 9% YoY sales growth, suggests that the market is factoring in broader concerns such as high valuation, muted domestic demand, and potential margin pressures, rather than just sales numbers alone.
Q4. What are the key factors for investors to monitor for Bajaj Auto?
A4. Key factors to watch are the sustainability of its export growth, a potential revival of rural demand in India (which affects domestic two-wheeler sales), and the company's ability to manage costs and protect its profit margins.