New Delhi: Bajaj Auto Ltd, the country’s second largest two-wheeler maker reported almost flat bike sales during October as it managed to overcome interest rate blues on the back of its newly-launched bike.
The company sold 2,48,307 units during the review month as against 2,51,022 units in the same month last year. Sales were primarily driven by its new model 125cc XCD DTS-Si.
“Despite the industry showing negative growth of 4-5% during October, our sales are almost flat primarily on account of increased consumer interest in XCD that sold nearly 45,000 units in the month,” BAL GM (Marketing) Amit Nandi said. The company has so far sold 63,000 units of XCD since its launch on 9 September.
He said the share of 125 cc plus segment in overall motorcycle sales is showing a constant increase and is in line with the company’s expectations, the entry-level 100 cc segment would further reduce to less than 50% of the overall market from the present 60%.
BAL’s sales have been showing a constant decline since the beginning of this fiscal and the company expects XCD to fuel growth and help it in posting positive numbers during the remaining part of the current fiscal.
The company had reported a 25% dip in its motorcycle sales during September at 2,04,152 units. “Our share in the 125 cc plus segment has increased to 50% and we expect to further consolidate and capture at least 60% share in the segment by the end of this fiscal. The company’s overall share in the motorcycle market has also grown to 35% in October from 33.5% in September,” Nandi said.