“We are disappointed with the November sales,” said Rakesh Sharma, ED of Bajaj Auto in an interview to CNBC-TV18.
According to him, there was a decline of about 10 percent at the retail level.
“If I extrapolate that given the fact that there is nothing exciting which is going to happen in the December-March period, I would say we are looking at industry underperforming compared to last year same period in domestic motorcycles,” said Sharma.
Bajaj Auto is seeing double-digit growth in higher-end bikes and a drop towards the bottom-end of the pyramid.
On electric vehicles, Sharma said, “We have started working on our higher-end electric bike and lower-end electric cycle.”
According to him, global markets are coming back quite well.
For entire interview, watch video