Bajaj Auto Sales Nose Dive In November By 37%
December 3rd, 2008 | by rarzi |
The sales are plunging and no one is spared. The latest one to take the bite is Bajaj Auto whose November sales dropped by a massive 37% to 132,421 units, year on year.
The company is working feverishly to arrest sliding sales which are expected to dwindle further in December?as dealers cut back purchases to avoid piling up inventories. As a short term solution, Bajaj’s finance arm, Bajaj Auto Finance is offering a retail finance scheme for buying Bajaj Vehicle’s at an interest rate of just 8%
The company also said that it will launch a new motorcycle model every month from January 2009 onwards, for six months to attract buyers. Analyst say that cost of new launches will squeeze profit margins and the future doesnt looks too bright. Shares of Bajaj Auto closed down 4.3 percent at Rs. 306.95
High interest rates and sluggish consumer spending have dented the deamand in the automobile market as every manufacturer grapples to maintain sales.
Country’s top 2 wheeler maker, Hero Honda posted a marginal .5% increase in sales year on year while the third largest TVS Motor Co’s sales fell 12.7 percent.
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