Bajaj Auto Sales Up 11 Percent in December; Becomes World's Most Valuable 2-Wheeler Company
Bajaj Auto Logo (Image Source: Reuters)
New Delhi: Bajaj Auto on Monday reported an 11 per cent increase in total sales at 3,72,532 units in December 2020. The firm had sold a total of 3,36,055 units in December 2019, Bajaj Auto said in a statement. Domestic sales were down 9 per cent at 1,39,606 units as compared to 1,53,163 units in the year-ago month, it added. Total motorcycle sales were at 3,38,584 units last month as against 284,802 units in December 2019, up 19 per cent, it added.
Exports jumped 27 per cent to 2,32,926 units as compared to 1,82,892 units in the same month a year ago, Bajaj Auto said.
Pune-based Bajaj Auto also said that it has become the first two-wheeler company globally to cross a market capitalisation of Rs 1-lakh crore (around USD 13.6 billion). This market valuation is considerably higher than all other domestic two-wheeler companies, Bajaj Auto said in a statement.
As per analysts, a market capitalisation of over Rs 1-lakh crore has not been achieved before by any international two-wheeler company anywhere in the world, it added. The company's share closed at Rs 3,479 on NSE on Friday, giving it a market capitalisation Rs 1,00,670.76 crore. Bajaj Auto has achieved this milestone as it celebrates the 75th year of its operations, it said.
"The company's sharp focus on the motorcycles category and its unwavering commitment to strategies of differentiation as well as the practice of TPM combined with global ambitions have today made Bajaj the most valuable two-wheeler company across the globe. This inspires us even more to serve and delight customers all over the World," Bajaj Auto Managing Director Rajiv Bajaj said.