Ba­jaj Auto In­dia sales rise 3pc

The Pak Banker - - COMPANIES/BOSS -

: Mo­tor­cy­cle and three­wheeler sales at Ba­jaj Auto Ltd (in­clud­ing ex­ports) rose 3% to 330,231 units in July over a year ago, the com­pany said in a state­ment on Mon­day.

Mo­tor­cy­cle sales grew 5% to 282,433 units over the same pe­riod but com­mer­cial ve­hi­cles sales fell 7% to 47,798 units. The com­pany ex­pects three-wheeler vol­umes in the do­mes­tic mar­ket to get a boost from is­suance of 550,000 new three-wheeler per­mits over the next three quar­ters, Kevin Dsa, chief fi­nan­cial of­fi­cer at the firm told an­a­lysts in a con­fer­ence call on 24 Au­gust af­ter the first quar­ter earn­ings.

Mean­while, on back of new model launches in­clud­ing a new Cruiser bike in the cur­rent quar­ter and a new Dis­cover model later this year, Ba­jaj hopes to bol­ster its do­mes­tic vol­umes. It ex­pects a 4% year-on-year growth in do­mes­tic twowheeler sales in the cur­rent fis­cal, but hopes to grow faster than the in­dus­try at 14%, said Dsa. Ex­ports at the Pune-based firm, how­ever, dropped 3% to 164,690 units over a year ago. Ba­jaj Auto's shares fell 0.59% to Rs.2,504.40, while the Sen­sex rose 0.26% to 28,187.06 points.

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