Bajaj Auto Focuses On Exports As India Battles Pandemic

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 stated.

The firm, which additionally sells rickshaws and small business automobiles, is already the most important exporter of bikes from its home market, the place gross sales have been sluggish to select up because of native lockdowns.

“All our export markets were also affected but recovery has been better (there) than in India,” Soumen Ray instructed Reuters in an interview late on Wednesday. “We will continue to remain aggressive on exports.”

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, Mr Ray stated.

Exports make up 40 per cent-45 per cent of group bike gross sales, Mr Ray stated.

This yr, nevertheless, they’ve predominated. Between January and June, it exported 664,000 bikes whereas promoting 589,000 in India, firm information confirmed.

Mr Ray declined to touch upon the corporate’s gross sales targets.

Bajaj, which presently sells to international locations in Africa, Asia and Latin America, is dealing with provide chain points at its vegetation in India because of lockdowns imposed by native governments.

Its workforce can also be 10 per cent-15 per cent quick as many employees are both anxious about coming to work or have returned to their villages, Mr Ray stated.