Comments
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, West Asia 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, Mr Rahul Bajaj, said in the company’s Annual Report for 2010-11.
He said the company surpassed the target to ‘globalise 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 per cent over the previous year.
Exports accounted for Rs 4,552 crore, which was 28.5 per cent of the company’s total net sales in FY 2011. It has increased from Rs 933 crore that contributed 12.5 per cent 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. Sri Lanka clocked a growth of 76 per cent, while Bangladesh grew at 34 per cent 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 per cent 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 per cent, it said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.