Bajaj Auto remains optimistic about domestic sales during the festive season
Two-wheeler manufacturer Bajaj Auto's sales in September were lower than what the management estimated. It expects the struggles to continue in the October-December period as well.
Bajaj Auto's total sales declined 2 percent to 3,94,747 units in September 2022 compared with 4,02,021 units sold in September 2021, as export numbers dropped massively. The management also expects the struggles to continue in the October-December period as well for the auto major.
While speaking to CNBC-TV18, Rakesh Sharma, ED of the company said the key reason for a drop in exports is a decline in the Africa business.
“Nigeria is certainly one of the factors but the environment for international sale has become rather choppy in the last two-three months and things have taken a very sudden movement about July onwards. This is largely following the moves by the Fed in the US, which has sort of strengthened the dollar against emerging market economies making the currencies devalue.”
However, Sharma said the company is optimistic about good sales volume domestically during the festive season. He said, “It is a good sign that the festive season is showing promise, but previously we have seen that immediately post the festivities, there is a decline because there is a sort of a reshaping of the consumer behaviour. It starts to get more bunched nowadays compared to before, during the festive period. So we will take it as it comes.”
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First Published: Oct 3, 2022 4:14 PM IST
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