New Delhi: On the back of its increasing international footprints, Pune-based Bajaj Auto aims to export over 2 million units in the next three to four years.
The company that exported over 1 million units of two- and three-wheelers in the last fiscal is banking on good demand in Latin America, Africa, the Middle-East and the South-East Asian markets.
“... Bajaj Auto has exported more than 1.2 million units (in FY 2011). I look forward to breaching the 2 million mark in the next three to four years,” Bajaj Auto Ltd (BAL) chairman Rahul Bajaj said in the company’s Annual Report for 2010-11.
He said the company surpassed the target to ‘globalize India’ by exporting over 1 million two-and three-wheelers.
BAL said during FY 2011, it exported 12,03,718 vehicles, representing a growth of 35% over the previous year.
Exports accounted for Rs4,552 crore, which was 28.5% of the company’s total net sales in FY 2011. It has increased from Rs933 crore that contributed 12.5% of total net sales in 2005-06, the company said.
In terms of strategic export markets, BAL said: “Africa remains a key focus area, with increased presence in Nigeria, Uganda, Kenya and Angola.”
Sales in South Asia touched a new high. Peace-time Sri Lanka clocked growth of 76%, while Bangladesh grew at 34% in 2010-11, the company’s annual report said.
“South East Asia was another bright spot. The company’s subsidiary in Indonesia, PT BAI, grew volumes by 81% with sales of 21,586 units, largely the Pulsar range,” it said.
During 2010-11, Latin America bounced back, with Colombia and Central America showing major recovery. Overall growth in the region was 47%, it said.
In the ongoing fiscal during the April-July period, BAL has so far exported 4,55,645 units of motorcycles at a growth of 30.22% over the year-ago period. In the three- wheeler segment, it has seen a growth of 43.25% at 1,15,715 units for the same period this fiscal.
On the domestic market, Bajaj said the company was close to meeting the target of ‘mobilize India’ by selling 4 million motorcycles by FY 2011.
“At almost 3.39 million units, it has not yet hit the mark. But it is close. I am confident that your company will cross the 4 million mark in FY 2012,” he said.