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October Sales Performance
November 1, 2004

• BAJAJ MOTORCYCLE SALES AND PROFITABILITY AT RECORD HIGH BY VIRTUE OF
UNPARALLELED PRODUCT PULL ACROSS ALL SEGMENTS

Sales volumes - October 2004

October 2004 October 2003 Change %
MOTORCYCLES 143,491 107,115 34.0%
TOTAL 2 WHEELERS 157,631 134,949 16.8%
3 WHEELERS 19,062 20,834 -8.5%
TOTAL 2 & 3 WHEELERS 176,693 155,783 13.4%
EXPORTS OUT OF ABOVE
15,262 13,360 14.2%

YTD Sales volumes April~October 2004

April~October 2004 April~October 2003 Change %
MOTORCYCLES 755,702 597,778 26.4%
TOTAL 2 WHEELERS 857,290 757,938 13.1%
3 WHEELERS 137,821 126,063 9.3%
TOTAL 2 & 3 WHEELERS 995,111 884,001 12.6%
EXPORTS OUT OF ABOVE
111,275 82,965 34.1%

MOTORCYCLES

Bajaj Motorcycle sales at 143,491 units represented a 34% YoY growth, well ahead of 14.1% estimated for the industry, yielding a 28.1% market share for October '04 Vs 23.9% for October, '03.

The 6 month old Bajaj CT100 achieved a stellar 90,222 units while the month old Bajaj Discover scorched its way to 19,632 units. Both continue to draw bookings exceeding production capacity.

The Bajaj Pulsar twins continued their dominance with 23,107 units.

Notably, all bajaj motorcycle sales growth was product-led, devoid of any demand pre-poning promotional schemes, thus enhancing profitability while simultaneously not jeopardizing the potential of the rest of this financial year post the festive season peak.

On the basis of the strong all-round demand for its mainline products, Bajaj expects that the higher sales and profitability levels for October '04 should be sustainable for the rest of the Financial year.


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