Two-wheeler Maker Slide After Petrol Price Increase

India, the second largest two-wheeler maker Bajaj Auto sales fell by 1.41% RS 1602.70. The company pre-tax payments reportedly increased by 4.17% and the RS 250 crore in Q2 September 2011 over Q2 September 2010. Total sales of the company increased by 16% to a record level of 3.82 lakh units in August 2011 on August 2010. Motorcycle sales jumped 17% to a record level of 3.38 lakh units in August 2011 to August 2010.

Shares of another two-wheeled TVS Motor Company maker fell 0.55% RS 63.15.

The largest motorcycle manufacturer in India for selling MotoCorp hero rose 0.14% to 2204.65. The company’s sales grew 19% to 5.03 lakh units in August 2011 to August 2010.

Meanwhile, the BSE Sensex down 175.89 points or 1.04% to 16,757.94.

The actions of these three manufacturers of two-wheelers had lost 0.06% to 2.08% Friday, September 16, 2011, after oil marketing companies government increased gasoline prices in rupees per liter 3.14 , or approximately 5% from Thursday, September 15, 2011, midnight. The Reserve Bank of India (RBI) has raised interest rate – the rate in the short term – 25 points mid-quarter review Friday, September 16, 2011.

The timing of the increase in gasoline prices later was poor for two-wheeler makers. The festive season started early this month and will last until the festival of Diwali, festival of light at the end of October 2011. Sales usually pick up during Christmas each year.


Comments are closed.