Bajaj Auto motorcycle sales down 14% at 2,42,516 units in October
Leading bikemaker Bajaj Auto has reported a 14 per cent decline in its sales of motorcycles in the month of October this year.
The festival season seems to have brought cheers for the automaking firm Bajaj Auto as the company has registered 15 per cent growth in retail sales while its festival to festival growth has gone up by 28 per cent. Reporting about the development Executuve Director of the company Rakesh Sharma told Zee Business TV that Bajaj Auto's retail sales have gone up from 4.02 lakh units to 4.63 lakh units — which is 15 per cent higher. However, the company's motorcycle sales declined 14 per cent in October 2019. The Pune-based company could sell 2,42,516 units of motorcycles during October in the domestic market as against 2,81,582 in the same month last year.
Speaking on the development Rakesh Sharma, Executive Director at Bajaj Auto said, "Out sales have grown 15 per cent and to know the strength of a company retail sales is the main parameter where we have performed quite well. If you look at the festival to festival growth, Bajaj Auto has logged 28 per cent growth from the previous festival to this festival sales and it speaks volumes about the sound status of our sales."
The company`s total sales of motorcycles remained negative during October 2019 amid demand slump. In the commercial vehicle segment also, the sales declined with domestic and export delivery together falling 13 per cent to 64,295 units.
See Zee Business tweet below:
— Zee Business (@ZeeBusiness) November 1, 2019
See Zee Business Live TV below:
Industry experts expect the auto sales cycle to witness a gradual recovery due to the confluence of factors such as increasing discounts, better rural sentiment, lower interest rates, higher government spending and a possible introduction of the scrappage policy.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.