Bajaj Auto November sales increase 21% to 3.26 lakh units, exports grow 27%

Two and three-wheeler maker Bajaj Auto has reported a 21 percent increase in November sales on Friday, backed by domestic as well as exports segments.

The company sold 3.26 lakh units in month gone by, increased from 2.7 lakh units sold in year-ago.

Exports during the month grew by 27 percent to 1.46 lakh units and domestic sales jumped 16 percent to 1.79 lakh units compared with year-ago month, Bajaj Auto said in its filing.

It further said motorcycle sales rose by 11 percent to 2.64 lakh units, compared with 2.37 lakh units in corresponding month.

3-wheeler sales growth was solid in November, growing 94 percent to 62,488 units, the highest ever monthly sales, against 32,191 units in November 2016.

"Current market share in domestic bike segment is close to 19 percent and we are targetting domestic share of 22-23 percent by March 2018," S Ravikumar, President-Business Development said in an interview to CNBC-TV18.

He expects strong run-rate in 3-wheeler segment to continue after stellar performance in November.

He expects 17 lakh exports by end of the year.

Ravikumar said two new launches would hit the market in January 2018.

At 10:24 hours IST, the stock price was quoting at Rs 3,319.00, up Rs 7.30, or 0.22 percent on the BSE.

Watch accompanying video of S Ravikumar, President-Business Development at Bajaj Auto for more details.