Bajaj Auto two-wheeler sales down 33 percentJanuary 1st, 2009 - 6:38 pm ICT by IANS
New Delhi, Jan 1 (IANS) Bajaj Auto Ltd Thursday reported 33 percent dip in its last month’s two-wheeler sales. The company sold 119,215 two-wheelers in December 2008 as against 177,249 units a year earlier, said an official statement.
Bajaj’s motorcycle sales also slumped 33 percent last month to 118,510 units from 176,441 units in December 2007, it added.
However, the three-wheeler sales during the month grew 3 percent to 22,948 units from 22,221 units a year earlier.
The sharp reduction in two-wheeler primary sales reflects the continuing effort to reduce dealer inventories, Bajaj Auto managing director Rajiv Bajaj said.
“In keeping with its objective to stimulate demand through a major product offensive, Bajaj will, in January 2009, launch an all new motorcycle,” he added.
In the April-December period last year, the total motorcycle sales were down 8 percent at 1,534,149 units, compared to 1,660,182 units in the corresponding period previous year.
However, the company’s scrip did pretty well Thursday, closing 18.55 percent higher at Rs.409.75 over its previous close.