New Delhi: Betting big on its international business, Bajaj Auto Ltd is expecting exports to account for 50 percent of its total sales in the next three years, as it plans to enter new markets in Latin America such as Argentina and Chile.
"In the last three years we have doubled our exports. The world is our market and we will continue to find new markets," Bajaj Auto Ltd (BAL) Senior Vice President (Business Development & Assurance) S Ravikumar said.
Elaborating on the company's export plans, he said: "In the next three years our aim is to have 50 percent of our total sales to come from exports."
Ravikumar said 35 percent of the company's motorcycle sales are from exports.
Asked about international market expansion plan, he said: "We are looking to expand presence in the Latin American market. Currently, work is in progress to enter the motorcycle segment in countries like Argentina and Chile."
As per the company's 2011-12 Annual Report, BAL's exports rose by 31 percent over the previous year to 15.8 lakh units. In terms of revenue, it stood at Rs 6,604 crore, accounting for 35 percent of the company's net sales.
The company exports to 35 countries with the African continent its largest market accounting for 41 percent of the total overseas shipments. It is followed by Asia and West Asia at 40 percent for both motorcycles and three-wheelers.
In the motorcycles segment, the company's Boxer model is the largest selling single brand in Africa. In the Philippines, Boxer BM-150 and Pulsar 135 are the best sellers.
In Latin America, where Bajaj Auto sells 20 percent of its total motorcycle exports, Pulsar 135 ranks among the top selling motorcycle models, the company said.
Sri Lanka and Bangladesh are the top markets for the company's three-wheelers.
First Published: Sunday, July 22, 2012, 10:37