Bajaj Auto Dec sales flat YoY at 2.89L; exports under pressure
Bajaj Auto said it had clocked 2.89 lakh unit sales in December 2015, flat compared to a similar figure in December 2014. The company’s two-wheeler sales rose 1 percent to 2.47 lakh while commercial vehicle sales fell 4 percent to 41,221.
Out of this, exports sales stood 1.45 lakh, down 12 percent from 1.66 lakh year-on-year (YoY), the company informed exchanges. While domestic sales jumped 17 percent to 1.44 lakh units, boosted by new launches such as the Avenger.
Fiscal-year-to-date (April-December 2015), Bajaj sold a cumulative 30.2 lakh units, compared to 30.3 in the same period last year.
“As far as exports are concerned, we’re doing very well at the retail level [in these markets],” Bajaj President Finance Kevin D’Sa told CNBC-TV18. “The problem we’re facing is dollar availability for these countries.”
Some of Bajaj’s key markets, such as Nigeria and Egypt in Africa, have witnessed macro-economic troubles, with some witnessing currency devaluation.
“With the recent Fed rate hike, we should continue to see some headwinds in January. But things should be okay from February-March onwards,” D’Sa said.
The company expects exports to improve in the first quarter of the calendar year but the executive said that would partially be a statistical improvement, when compared year-on-year, following similar export troubles in Egypt last year.
“We have a target of 1.6 lakh units for exports, which we believe should happen from March onwards, as we expect dollar availability to improve,” D’Sa said.
Read full article: Money Control
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