Bajaj Auto sales dip 32 percent in November

December 4th, 2008 - 5:57 pm ICT by IANS  

New Delhi, Dec 4 (IANS) Bajaj Auto Ltd, the country’s second largest two-wheeler maker, Thursday reported a 32 percent fall in its total sales in November, thanks to a credit squeeze that has hit hard the auto industry.The company sold 159,747 vehicles last month against 235,797 units a year ago, an official company statement said.

Two-wheeler (motorcycles and scooters) sales dropped 37 percent in November to 132,421 from 211,600 units of the last corresponding period, while three-wheeler sales saw a rise of 13 percent to 27,326 from 24,197 units, the statement said.

However, the demand slump has not derailed Bajaj’s future plans with the company still committed to introducing one new motorcycle each month for six months beginning January 2009.

Bajaj is also planning a low-interest retail finance scheme for dealers at 7.99 percent to boost sales.

The statement added that exports grew by 46 percent to 67,397 units in November from 46,295 units in the year-ago period.

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