Bajaj Auto is aiming to regain its lost share in the Indian two-wheeler market with six product launches in the next six months that will include a new 100 cc bike besides a 400 cc model under its flagship brand Pulsar.
The company that had once looked away from the high volume 100 cc segment is looking to create a new space in the mass market as it eyes an overall share of more than 20 per cent in the domestic market by March this year.
“In the next six months, there will be one launch every month from us,” Bajaj Auto President (Business Development & Assurance) S Ravikumar told PTI.
While he did not elaborate on the launch programme, Ravikumar said the new 100 cc bike would hit the market in the ongoing quarter.
“In the 100 cc segment, we have the Platina to address the value-for-money customers and Discover for executives. The new model will have its own space,” he said.
Besides, “we also will launch a 400 cc bike under our flagship Pulsar brand”, Ravikumar added.
All these new products would help the company reclaim its lost share in the Indian market.
“We are looking at improving our market share, which is currently around 16-17 per cent to over 20 per cent by March on the basis of these launches,” he said.
In the April-December period this fiscal, in the domestic market Bajaj Auto sold 13,91,341 units as against 16,05,308 units in the same period last fiscal, down 13.33 per cent.
Bajaj Auto trails behind market leader Hero MotoCorp which sold 43,40,986 units in the April-December period this fiscal but is ahead of Honda MotorCycle and Scooter India (HMSI) that clocked 13,27,862 units in the same period.
While Hero’s sales grew by 7.16 per cent during the period to 43,40,986 units, HMSI also posted a growth of 12.43 per cent at 13,27,862 units.
Ravikumar said while models like Platina, Pulsar and KTM had grown, the Discover model had seen a decline.
On the outlook for the fourth quarter, he said the company will cross the one million mark in total sales and for the whole of 2014-15, the company is poised to cross the four million units.
Commenting on the impact of withdrawal of excise duty concessions, he said the company has already passed on the increase to customers.
“With the raw material costs coming down and the Indian economy looking up, the impact of the increase in excise rate will be absorbed,” Ravikumar said.