Bajaj Auto has introduced ‘Bajaj GoGo’, an exclusive brand focused on electric autos, as reported by CNBC-TV18.
In the December quarter, the company achieved its highest-ever retail sales of three-wheelers, selling 1,25,000 units, of which 17,000 were electric vehicles (EVs).
Bajaj Auto’s EV market share in the three-wheeler segment jumped to 35% in Q3 FY25, up from 13% a year ago. Additionally, the company expanded its three-wheeler dealership network from 600 to 850 touchpoints.
According to Vahan data, the three-wheeler industry sold 12.21 lakh units in 2024, spanning petrol, diesel, CNG, LPG, and electric variants. Electric three-wheelers contributed 56% of total sales, with 6,91,323 units sold. Mahindra Last Mile Mobility, YC Electric, and Bajaj Auto emerged as the top three manufacturers in this category.
Bajaj Auto is already the largest player in the overall three-wheeler segment, with sales of 4,38,941 units in 2024. In comparison, Piaggio Vehicles Pvt Ltd sold 93,731 units, while Mahindra & Mahindra Ltd recorded 76,450 units.
Financial Performance in Q3 FY25
For the October-December quarter, Bajaj Auto reported:
- Revenue from operations: ₹12,807 crore (6% YoY growth).
- EBITDA: ₹2,581 crore, with an EBITDA margin of 20.2% (10 basis points YoY improvement).
- Profit After Tax (PAT): ₹2,109 crore.
The company’s sales growth was fueled by strong exports recovery, expanding EV sales, and record festive season volumes in the domestic market.
