Demand almost 95% in July: Bajaj Auto (NSE: BAJAJ-AUTO) ED Rakesh Sharma has stated and we quote the same directly through the horses mouth for you get a clear perspective about the prospects of Bajaj Auto stock
Direct consumer purchases from showrooms of two-wheelers in July has jumped to 85% of pre-COVID-19 levels and is seen improving further in the coming months for Bajaj Auto. While certain urban markets are underperforming because of lockdown-related measures rural demand has compensated for the shortfall said the company.
Rakesh Sharma, Executive Director - Bajaj Auto said, In July, we have seen demand climb up to 85% for motorcycles. The first ten days of July have been pretty good. We have seen demand reaching almost 95% in the first ten days of July compared to July 2019. Lockdowns impacted the retail number in Bengaluru, Bihar, and Guwahati. Now, we are back to 80-85%. Some of Bajaj's dealerships, especially those in the containment zones, remain shut. Still, about 95% of the company's total dealerships count is operating normally, he added further.
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