Bajaj gains in overseas market
Even as it lost market share in domestic motorcycle market, Bajaj Auto is racing ahead in many overseas markets and has claimed to have captured top positions and significant market share.
Bajaj’s top motorcycle brands Discover, Pulsar and Boxer continue to see strong sales momentum and have emerged strong brands in several markets where Chinese and others brands are also marketed.
While there were strong market share improvements across South Asia, the Middle East, Latin America and Africa, Boxer is reported to have become No.1 brand in Africa among all competitors.
“Both, Discover and Pulsar continued to gain market share in key markets like Colombia, Central America, Egypt, Sri Lanka and Bangladesh. Boxer continued to hold market share in Africa and, in many cases, gained at the expense of Chinese brands to further strengthen its leadership position in markets such as East Africa and Nigeria,” revealed company’s latest annual document.
Bajaj Auto is way ahead of its other Indian competitors in terms of exports. It shipped about 1.3 million two wheelers in FY14 which is significantly higher (accounted for 69 per cent India’s bike exports) than its peers.
Presently, its major export destinations are Africa (46 per cent), South Asia and Middle East (28 per cent), Latin America (19 per cent) and Asean (7 per cent).
Total two wheeler (upto 250 cc) export market size is estimated at $ 7 billion and is expected to rise further due to low penetration level in many emerging economies of Asia, Africa and Latin America.
Indian Companies have lot of ground to cover in terms of export. Myanmar, Nigeria, Argentina, Mexico and Venezuela are some of biggest importer of two wheelers in the world. Indian companies are virtually absent in Latin American market. If these markets are tapped effectively, it will provide further growth for Indian two wheeler makers, pointed out a report of IndiaNivesh Securities.
Bajaj gains in overseas market - The Hindu