Bajaj Auto, the two- and three-wheeler manufacturer, witnessed a drop of 10% in sales for the month of March. It sold 3,01,231 units as against 3,35,515 units in March 2012. Indian automakers are reeling under pressure from the slowing economy and high interest costs, which has dampened buyers’ sentiments. The company managed to sell 267,037 motorcycles as compared to 300,848 units in the year-ago period, thus translating into a 11% drop. The commercial vehicles fared relatively well with a 1% drop at 34,194 units while it was 34,667 units in March 2012. The exports dipped 6% to 101,374 units from 107,691 units a year ago. For the year 2012-13, the total sales of the company declined by 3% to about 4.23 million units.
While motorcycles sales in the year declined by 2% to 3.75 million units, three wheeler sales dropped by 7% to 4,80,057 units, the company said in a statement. The stock of the company was down by 1.69% to Rs 1,753 a share on Bombay Stock Exchange following the announcement at 11.45 am.