Bajaj Auto, capitalizing on its impressive sales growth and increased market share, has outlined ambitious plans for product launches and network expansion. The company has experienced robust growth in the domestic motorcycle market, notably outpacing industry growth rates. “In the October-December quarter, we grew at twice the rate of the industry,” said Rakesh Sharma, Bajaj Auto’s Executive Director. This surge is particularly strong in the 125cc plus segment, where Bajaj’s growth was three times the industry rate, pushing their market share close to 31 percent. This focus on the premium segment aligns with the broader trend of premiumisation in the industry.
New Product Launches: Pulsar NS400, New Chetak Variant, and CNG-Powered Bike
Pulsar NS400 and New Chetak Variant on the Horizon
Sharma announced that Bajaj Auto aims to boost the monthly sales of its Chetak electric scooter to 15,000 units by March and introduce a new model in the Chetak lineup in the upcoming financial year’s first quarter. The company is also set to unveil the much-anticipated Pulsar NS400, as part of their strategy to frequently update their product offerings. “Every month you will see two or three updates until May,” said the management, highlighting Bajaj’s commitment to innovation and staying ahead in the competitive market.
Introduction of a CNG-Powered Motorcycle
In an exciting development, Bajaj Auto confirmed the launch of a CNG-powered motorcycle in the next financial year. This move is a testament to Bajaj’s commitment to diversifying its portfolio and embracing alternative energy sources.
Bajaj’s Rising Dominance in the Electric Market
The company’s electric two-wheeler market share has seen a significant jump, nearly tripling from 5 percent to 14 percent. This growth is attributed to the introduction of a new Chetak model in December, with current sales figures of around 10,000 electric scooters, a substantial increase from the 3,000-4,000 units at the start of the financial year.
Expanding Triumph’s Footprint
Bajaj Auto’s collaboration with Triumph has also borne fruit, with the Triumph Speed 400 and Scrambler 400 X receiving positive responses in both domestic and international markets. Plans are underway to ramp up the production capacity of these models to 30,000 units per month by the first half of the next financial year, a significant increase from the current capacity of 10,000 units per month. Additionally, Bajaj aims to double the availability of Triumph models, expanding from 41 cities across India by March.
In summary, Bajaj Auto’s strategy of focusing on the premium segment, introducing innovative products, and expanding its market presence is set to propel the company to new heights in the coming years.
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