New Delhi: On the back of its increasing international footprints, Pune-based Bajaj Auto aims to export over 2 million units in the next three to four years.
The company that exported over 1 million units of two- and three-wheelers in the last fiscal is banking on good demand in Latin America, Africa, the Middle-East and the South-East Asian markets.
"... Bajaj Auto has exported more than 1.2 million units (in FY 2011). I look forward to breaching the 2 million mark in the next three to four years," Bajaj Auto Ltd (BAL) Chairman Rahul Bajaj said in the company's Annual Report for 2010-11.
He said the company surpassed the target to 'globalise India' by exporting over 1 million two-and three-wheelers.
BAL said during FY 2011, it exported 12,03,718 vehicles, representing a growth of 35 percent over the previous year.
Exports accounted for Rs 4,552 crore, which was 28.5 percent of the company's total net sales in FY 2011. It has increased from Rs 933 crore that contributed 12.5 percent of total net sales in 2005-06, the company said.
In terms of strategic export markets, BAL said: "Africa remains a key focus area, with increased presence in Nigeria, Uganda, Kenya and Angola."
Sales in South Asia touched a new high. Peace-time Sri Lanka clocked growth of 76 percent, while Bangladesh grew at 34 percent in 2010-11, the company's annual report said.
"South East Asia was another bright spot. The company's subsidiary in Indonesia, PT BAI, grew volumes by 81 percent with sales of 21,586 units, largely the Pulsar range," it said.
During 2010-11, Latin America bounced back, with Colombia and Central America showing major recovery. Overall growth in the region was 47 percent, it said.
In the ongoing fiscal during the April-July period, BAL has so far exported 4,55,645 units of motorcycles at a growth of 30.22 percent over the year-ago period. In the three- wheeler segment, it has seen a growth of 43.25 percent at 1,15,715 units for the same period this fiscal.
On the domestic market, Bajaj said the company was close to meeting the target of 'mobilise India' by selling 4 million motorcycles by FY 2011.
"At almost 3.39 million units, it has not yet hit the mark. But it is close. I am confident that your company will cross the 4 million mark in FY 2012," he said.
First Published: Monday, August 15, 2011, 10:28