Bajaj Auto India sales rise 3pc
: 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.