Financial Daily from THE HINDU group of publications
Saturday, Mar 08, 2003
Financial Daily from THE HINDU group of publications Saturday, Mar 08, 2003 |
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Corporate
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Outlook Bajaj Auto sales to fall short of target Our Bureau
NEW DELHI, March 7 BAJAJ Auto on Friday said that it would fall short of its target of selling 1.5 million two and three-wheelers in the current financial year by a marginal amount. "We had been talking of a sales target of 1.5 million. However, the marginal decline can be attributed to an unexpected drop in demand in North India in the post-Diwali season and also a drop in sales of geared scooters and mopeds," Mr R.L. Ravichandran, Vice-President (Business Development and Marketing), said. However, he added, the operating profit in this fiscal has been the highest so far in the company's history. The company expects to sell about nine lakh motorcycles, 2.50 lakh geared scooters, 70,000 automatic scooters, 50,000 mopeds and 1.96 lakh three-wheelers in the current fiscal. On a possible equity alliance with its technical partner, Kawasaki Heavy Industries, Mr Ravichandran said that an equity tie-up for manufacturing of motorcycles in the country was unlikely. The tie-up between the two companies is expected to be more for marketing and distribution in the export markets. Meanwhile, Bajaj would be rolling out its first 125 cc "world bike" in April this year. "Issues relating to which brand - Kawasaki or Bajaj - the bike will be sold under and which markets it would be sold in, should be decided within the next three months." On new launches, Mr Ravichandran said that a 250 cc model of its existing Pulsar model was being developed. "The motorcycle should be ready within a year." In a bid to increase its share in the executive segmentthe company is planning to launch another bike in addition to the Caliber 115 this year.
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