Contrary to the opinion that the industry is now back to pre-November normal, Bajaj Auto feels that demonetisation induced pain in auto sector will continue in the quarter ending March 31, 2017.Bajaj Auto reported total sales of 2.42 lakh units, a dip of 18 percent year-on-year (YoY) for the month of January. The company's exports were down 19 percent to 1.06 lakh units (YoY) and its three-wheeler sales also slumped 27 percent to 30,093 units (YoY).
Speaking to CNBC-TV18, S Ravikumar, President - Business Development at Bajaj Auto said that the impact of demonetisation is likely to play out in the fourth quarter of FY17 as well.
He said that the industry is also facing the issue of transition from BS III to BS IV compliance and all vehicles produced by Baja Auto now are now in line with the new emission standards.
The company is well geared to face this challenging time and will not lose on profitability, he added.Watch video for more.
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