NEW DELHI- Bajaj Auto is betting that an early restoration from the ravages of COVID-19 in motorbike gross sales in its export markets will assist it offset pandemic-related disruption at residence, its chief monetary officer said.
The Indian company, which additionally sells rickshaws and small industrial automobiles, is aly the most important exporter of bikes from its home market, the place gross sales have been sluggish to select up as a consequence of native lockdowns.
“All our export markets were also affected but recovery has been better (there) than in India,” Soumen Ray advised 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, as nicely as a design workplace in Thailand to deal with gross sales for the ASEAN area, and one other design workplace in Europe, Ray said.
Exports make up 40%-45% of group motorbike gross sales, Ray said.
This year, nevertheless, they’ve predominated. Between January and June, it exported 664,000 bikes whereas promoting 589,000 in India, company knowledge confirmed.
Ray declined to remark on the company’s gross sales targets.
Bajaj, which at the moment sells to international locations 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 also be 10%-15% quick as many employees are both frightened about coming to work or have returned to their villages, Ray said.