Festive cheer: Bajaj Auto says 2-wheeler industry growth at 15-18% so far
Rakesh Sharma, Executive Director of Bajaj Auto told CNBC-TV18 the two-wheeler industry is pleasantly surprised by strong consumer response to products during the festive season.
Bajaj Auto's growth rate has been double that of the industry, and Rakesh Sharma, Executive Director of Bajaj Auto, is confident that this trajectory will continue at the current rate.
“We are probably at twice the industry rate. We are still halfway through the season. I think it will probably continue at this rate,” he said in an exclusive interview with CNBC-TV18.
He is pleasantly surprised as consumers flocked back to stores in significant numbers during the festive season and said the 2-wheeler industry witnessed an impressive 15-18% growth.
Exports for Bajaj Auto are tied to global macroeconomics, he said, pointing out that the resolution of these disturbances remains uncertain. While Bajaj Auto's largest market, Nigeria, recently experienced a devaluation that brought short-term challenges, it holds promise for long-term benefits. Many other markets are showing signs of robust recovery.
In the domestic market, Bajaj Auto has achieved an overall gain of about 1-1.5%, with a 30% plus market share in the 125CC plus segment. Their overall domestic market share remains at 18-19%.
“We would have garnered about 1-1.5% at an overall level and in the 125CC plus segment, I think we are 30% plus. The overall domestic market share is between 18% and 19%,” he said.
Bajaj Auto has reported October total sales at 4.71 lakh units versus Nomura's estimate of 4.17 lakh units. Total sales are up 19% Y-o-Y while exports are down 7%.
For more details, watch the accompanying video
(Edited by : Shweta Mungre)
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