Retail sales to see single-digit growth in September: Rakesh Sharma of Bajaj Auto
Bajaj Auto sales are expected to hold up in September, Rakesh Sharma, executive director, told CNBC-TV18. Sharma also said exports are expected to hold steady at 2 lakh units and retail sales are expected to see single-digit growth.
Bajaj Auto sales are expected to hold up in September, executive director Rakesh Sharma told CNBC-TV18. He also said exports are expected to hold at two lakh units and retail sales are expected to see single-digit growth.
The company reported nearly 5% growth in total sales to 3,732,270 units in August 2021, up from 3,56,199 units in the corresponding period a year ago. Sales exceeded Street’s expectations.
Analysts in a CNBC-TV18 poll estimated the company’s total sales at 3.66 lakh units for the month.
“Sales should be maintained. At the retail level, there would be single digit growth, but we will not source. Exports will hopefully continue to hold above two lakh; we have enough orders, but there is still a logistics problem and there is a semiconductor problem, which affects us, although less than the four wheels, but it affects our high end. So that’s holding back sales to an overall level of 5-6%, ”Sharma said.
Speaking at the request, he said: “India’s demographic and innate demand for independent mobility is strong. Therefore, as the economy recovers and the pandemic recedes; the immunization program is restoring consumer confidence, retail finance is coming back … All of these things are subsiding and starting to stimulate demand. So compared to last year, we certainly expect growth in the coming months. “
According to Sharma, sales of electric two-wheelers are minimal and do not affect current sales.
“Electric vehicles (EVs) and two-wheelers, at present, are still very minimal; so it’s not as if current sales are affected by the advance of electric vehicles, at least for now, ”he said.
He also believes the transition to electric vehicles will increase steadily, although it won’t be huge.
For the full management interview, watch the video