Bajaj Auto Ltd., Pune-based automobile company, and Eicher Motors Ltd., makers of Royal Enfield motorcycle, saw domestic sales of motorcycles rise 25 percent and 42 percent, respectively, in April 2016.
Bajaj Auto
Bajaj Auto sold 2 lakh units during April 2016, helped by new models including Avenger, the Mint quoted S. Ravikumar, president, business development and assurance at Bajaj Auto, as saying on Monday. The company's another models include the Pulsar, Discover and Platina 100 ES.
The company's three-wheeler sales jumped 82 percent to 25,700 units in April as compared to the same month a year ago.
However, overall exports declined 36 percent to 1,03,976 units from 1.62 lakh vehicles in April 2015. Ravikumar said the fall in exports was due to one of its key markets Nigeria facing currency problems resulting in a drop in orders from the African country, according to the daily.
The company hopes to sell 375,000 units this month aided by the buoyancy in the domestic market and a pick-up in exports, according to Ravikumar.
Stcks of Bajaj Auto closed at Rs. 2,474.20 on Monday, down 0.42 percent from its previous close.
Royal Enfield
Eicher Motors, in a filing with the BSE on Monday, said it sold 47,037 units of Royal Enfield, 42 percent more than 33,118 vehicles sold in the corresponding month last year. Overall sales, including exports, stood at 48,197 units last month, up from 33,918 vehicles in April 2015, the company said in the filing.
Shares of Eicher Motors closed at Rs. 19,874.75 apiece, down 0.79 percent from their previous close.
