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videos | IST

Auto industry to grow 10 percent in January-March period, says Bajaj Auto

Auto industry is likely to grow at the rate of 8 to 10 percent between January and March, according to Rakesh Sharma, chief commercial officer (CCO) of Bajaj Auto, adding that his company may see higher growth when compared to that of the industry.
“Though December is not a good month to base your projections on because it is sort of close of the year and the new year begins, I would say things should settle down and the industry definitely should be clocking back about between 8 percent and 10 percent growth in the January-February-March period and we are hoping to be well ahead of the industry. So we are expecting our growth rate to be definitely in high-teens in the domestic motorcycles business,” said Sharma.
“Numbers have come in pretty well in this season. Though I must say that like the industry, we were all expecting this season to be better than what it turned out to be. The full numbers of retail has to yet roll in for the motorcycles but our estimate is that we should be anywhere between 10 percent and 12 percent point above what the industry has performed. So it has been a period when we have gained market share in the domestic motorcycle business, so that is good. The commercial vehicle business is held steady. It has turned in its average per month topline and so has the export business unit which is performing quite steadily. So yes, for the month it is a 25 percent growth for the company,” he said.
Speaking about the current domestic motorcycle market share, he added, “On a retail basis, it would be 20 percent and when we were entering this financial year, we were close to 15-16 percent. So over a period of 6-7 months, it is quite a nice game for us.”