Bajaj Auto has snatched the top spot from Eicher Motors’ Royal Enfield to become the most valuable bikemaker in September 2017. In market capitalisation, the Pune-based two-wheeler manufacturer also took a lead over Hero MotoCorp with a significant difference.
Bajaj’s market capital stood at Rs 91,497 crore, while Royal Enfield and Hero MotoCorp’s market capital were at Rs 84,406 crore and Rs 75,086 crore, respectively, on the BSE (Bombay Stock Exchange) on October 5, 2017. Just so you know, Royal Enfield’s parent company Eicher Motors shares hit an all-time high of Rs 31,600 on the NSE (National Stock Exchange) in August 2017. And it had overtaken the top Indian two-wheeler manufacturers – Bajaj Auto and Hero MotoCorp. Check Out – Upcoming Bajaj Bikes In India
In August 2017, the Bajaj Pulsar and Avenger cruiser bikes witnessed poor sales in both domestic and export markets. This was the reason why the Pune-based bikemaker slipped down to the third spot in the same month. However, the company registered its highest ever monthly sales of 4.28 lakh in September 2017. That means, Bajaj Auto witnessed a strong sales growth of 14%.
Recently, Bajaj Auto announced a non-equity global partnership with the British two-wheeler manufacturer – Triumph. Besides this, the bikemaker will also foray into the electric vehicle segment by 2020. The company will introduce its new sub-brand – Bajaj Urbanite – under which it will produce electric two and three-wheelers. Aiming to expand its product portfolio, Bajaj will introduce seven new models by the end of this year.
Bajaj Auto’s domestic volumes increased by 7% to 247,418 units, and the export market grew by 20% to 122,260 units in September 2017. On the other hand, Hero MotoCorp recorded over a million sales in the festive season so far. In October 2017, the company also surpassed a cumulative sales of 75 million units ever since its inception. Royal Enfield clocked sales of 70,431 units last month as against 57,842 units sold in September previous year, accounting a sales growth of 22%.