Demonetisation hits Bajaj Auto’s December sales

Kolkata, Jan 3 (IANS) Automobile major Bajaj Auto said on Tuesday that its sales for December were down due to demonetisation.

“After demonetisation, the mood of overall economy, two wheeler companies and us is hard. We were gearing up for a record Q3 third quarter sales after good monsoon but that is not the case,” company’s President (Business Development) S. Ravikumar said in an interview with BTVi.

“We like to concentrate on domestic sales because that is the focus area now. In domestic motorcycle sales, the industry has a de-growth of 25 per cent in December while in Bajaj Auto our domestic sales in motorcycle segment is down by 11 per cent. That itself reflects internal strength and products,” he said.

The automaker reported that its overall sales in December were down by 22 per cent.