Leading two-wheeler maker Bajaj Auto has sold higher number of two-wheelers outside the country than in the domestic market during November.
The company’s domestic two-wheeler sales stood at 188,196 units last month, while exports were at 196,797 units.
This is not the first time that Bajaj has sold more units in the overseas markets than the domestic market.
In February, the company’s exports were higher at 163,346 units compared with domestic sales of 146,876 units.
Meanwhile, Bajaj Auto has been recording double-digit growth in exports since September and for the third consecutive month, the company has reported double-digit growth in two-wheeler exports as several countries are gradually recovering from the impact of Covid-19.
Normal levels
“What is heartening is that our operations have restored to normal levels, export is doing very well and our premium range led by Pulsar is doing very well globally,” the company said in a recent communication to shareholders.
There has been a strong revival in demand in markets such as Latin America and Africa. The growth in Latin America is driven by some of its models such as Pulsar and Dominar.
Exports now account for about 46 per cent of Bajaj’s revenue and during the first half of the current fiscal, the company’s export revenue was at ₹4,614 crore.
“In contrast to divergent fortunes domestically, export markets bounced back in a more comprehensive manner for the company. Bajaj Auto Ltd has been successful in gaining incremental market share in several key markets. It is a leading exporter of two-wheelers out of India with its market share in exports at about 60 per cent, according to ICICI Securities report.