Bajaj Auto claims it emerged as India's leading motorcycle manufacturer in April2 min read . Updated: 04 May 2021, 12:13 PM IST
Bajaj Auto claims to be the world's most valuable two-wheeler company with a market capitalisation of ₹110,864 crore.
Bajaj Auto has claimed that it has emerged as the leading motorcycle manufacturer in India in April 2021, with 348,173 units sold globally, including both domestic sales and exports. The Pune-based two-wheeler major shipped 221,603 units to the foreign markets last month, claimed the brand. Besides, the company noted that it is the world's third-largest manufacturer of motorcycles and the largest manufacturer of three-wheelers.
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According to a statement issued by Bajaj Auto, the auto company is the world's most valuable two-wheeler company with a market capitalisation of ₹110,864 crore, which is nearly double the next largest two-wheeler company in India Hero MotoCorp.
Bajaj Auto claims that it already leads the motorcycle exports segment from India, accounting for almost 60% of the country's motorcycle and three-wheeler exports in 2020. In the last financial year, Bajaj Auto registered an income of ₹12,687 crores from its export to over 79 countries. Global sales of Bajaj Auto have earned more than $14 billion of foreign exchange over the last decade, the company further said.
Apart from the Indian market, Bajaj Auto has a strong presence in the African market and some European markets as well, with both its commuter and high-performance motorcycles.
Commenting on the sales performance, Rakesh Sharma, Executive Director, Bajaj Auto, said that the wide range of motorcycles made by the company covers the entire spectrum from entry, middle, and up to premium level segments allowing it to engage with a wide spectrum of customers from the moto-taxi driver in Africa to the adventure seeker in Europe. "We have commenced FY2022 on a very positive note despite the challenging environment," he also said.
He also added that this versatility is of enormous value in managing the current volatility as well as uncertainty and keeping the wheels of business moving for all the company's stakeholders. In a bid to expand its business, Bajaj Auto is planning to scale up its network to 24 more cities in the coming year, as revealed by Sharma.
The company has also announced an investment of ₹50 crore for a fourth plant that will be built at Chakan of Maharashtra. This will help the brand to cater to the rising demand for its products globally. The fourth plant will be manufacturing only its premium motorcycles and Chetak electric scooter, for which the brand has restarted the booking process recently.
(With inputs from PTI)