A structural slowdown facing the world’s largest two-wheeler market has changed the equations in the segment, with Bajaj Auto emerging as the largest motorcycle maker in November, zipping past market leader Hero MotoCorp.
The Pune-based firm sold a total of 337,962 units in November in the domestic and exports market against the 329,185 units sold by Hero MotoCorp, shows the monthly sales data released by the companies on 1 December.
The key Indian equity indices hit fresh record highs on Tuesday morning in line with global market after US pharma major Moderna announced that its COVID-19 vaccine has recorded 94.5 per cent effectiveness.
Sensex crossed the 44,000-mark and touched a record high of 44,161.16 points.
Shares of Bajaj Auto slipped 4 per cent to Rs 2,785 on the BSE on Monday after the company reported a 10 per cent year on year (YoY) drop in total auto sales at 354,913 units for the month of February 2020.
The two-wheeler maker missed analysts' expectations by a decent margin. Nirmal Bang Equities, for instance, had expected total auto sales of 382,844 units, while Emkay Global Financial Services had expected total sales of 374,000 units for the month.
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