Bajaj Auto’s exports have surpassed its domestic sales in December and January.
Indian motorcycle manufacturer Bajaj Auto has just sold more two-wheelers outside of India in January and December than in India during the two months. The Indian brand has focused on international markets more than its local market in order to gain more sales.
Bajaj’s exports of two-wheelers during January and December rose by 19 and 13 per cent. At the meantime, domestic sales decreased by 22 and 21 per cent respectively during the same two months. This is the first time in two years where Bajaj’s global exports have exceeded its domestic volumes. Usually, exports would amount to 40 per cent of Bajaj’s production, such as in the last financial year.
Exports of Bajaj’s two-wheelers during January and December grew by 19 and 13 per cent even as its domestic sales dropped by 22 and 21 per cent respectively during the same two months.
According to Money Control, activities in the domestic market has been slow in recent years. However, Bajaj managed to counter this by expanding its export markets to subdue the impact of the domestic slowdown. As per the data disclosed by the company, Bajaj’s export shares have clocked 53 per cent by January. It has been the leading exporter for two and three-wheelers in more than 70 countries for the past few years.
“Outlook for exports remains steady at least going into the next couple of quarters or three quarters. The last 2-3 quarters have been quite rock steady. And we expect the same thing going forward. The real driver for growth is Africa, particularly Nigeria and East Africa. These regions are powering the growth of Africa and actually for the entire international business,” says Rakesh Sharma, Chief Commercial Officer & Executive Director, Bajaj Auto, as quoted from Money Control.
“Philippines is really a bright star and has been doing exceedingly well. We’ve got a great position over there. Bangladesh also has become a very large market, but it has had some regulatory intervention because of which the market had taken a little bit of a dive, but as the dust is settling and we expect Bangladesh market also to come back,” added Sharma.