Bajaj Auto, which additionally sells rickshaws and small industrial autos, is already the most important exporter of bikes from India. Nonetheless, home gross sales have been gradual to choose up as a consequence of lockdowns.
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In Q1 FY 2021, Bajaj Auto noticed a 53 per cent drop in internet revenue, which stood at Rs. 528 crore
Bajaj Auto is betting that an early restoration from the ravages of COVID-19 in bike gross sales in its export markets will assist it offset pandemic-related disruption at house, its chief monetary officer mentioned. The Indian firm, which additionally sells rickshaws and small industrial autos, is already the most important exporter of bikes from its home market, the place gross sales have been gradual to choose up as a consequence of native lockdowns.
“All our export markets have been additionally affected however restoration has been higher (there) than in India,” Soumen Ray advised Reuters in an interview late on Wednesday. “We’ll proceed to stay aggressive on exports.”
Additionally Learn: Bajaj Auto Q1 FY21 Results: Net Profit Falls 53 Per Cent Due To COVID-19 Pandemic
Exports make up for 40%-45% of Bajaj Auto group’s complete bike gross sales
Bajaj plans to open an meeting plant in Brazil inside 18 months, in addition to a design workplace in Thailand to deal with gross sales for the ASEAN area, and one other design workplace in Europe, Ray mentioned.
Exports make up 40%-45% of group bike gross sales, Ray mentioned.
Additionally Learn: Bajaj Auto Unions Seek Plant Closure After 250 Test COVID-19 Positive
This yr, nevertheless, they’ve predominated. Between January and June, it exported 664,000 bikes whereas promoting 589,000 in India, firm information confirmed.
Ray declined to touch upon the corporate’s gross sales targets.
Bajaj’s home gross sales for June 2020 stood at 1,51,189 models, a decline of 34 per cent
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Bajaj, which at present sells to nations in Africa, Asia and Latin America, is dealing with provide chain points at its crops in India as a consequence of lockdowns imposed by native governments.
Its workforce can be 10%-15% brief as many employees are both nervous about coming to work or have returned to their villages, Ray mentioned.
(This story has not been edited by NDTV employees and is auto-generated from a syndicated feed.)
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