Dramatic slowdown seen in auto industry in last few months, says Bajaj Auto
Bajaj Auto has reported an 18 percent rise in total sales at 3,93,351 units in March. Rakesh Sharma, ED of Bajaj Auto, shared his views on the auto sales data.
“Coming few months pose several challenges particularly in the domestic side of things because there is a regulatory change, which is going to occur. It is definitely going to be an uncertain Q1 from that point of view. We expect our growth momentum to continue because a large part of our growth is driven by the entry commuter.If I take our retails in March, our motorcycle growth has been above 20 percent. So we are expecting that certainly to continue into Q1,” Sharma said on April 2.
“Industry has definitely slowed down. However, it would be too simplistic to look at the industry as a whole because different components of the industry are behaving in a different manner,” he added.
Talking about the market share, Sharma said, “Our market share in March is 22 percent. We had closed the year with about 15.7 percent and if I look at the entire year then we picked up 3 percentage points and we are close to 19 percent. We are also close to 19 percent in the exit quarter so it is better to look at market share at least on a quarterly basis. We would have liked to cross 20 percent but with the tailwinds of the industry sort of slowing down a bit, it is more difficult to acquire market share in an industry which is a little bit stagnant than an industry where the customers are a bit more adventurous and where the tailwinds are with you.”