 "Three-wheeler volumes expected to grow 10% in FY17: ICRA report")
Bajaj Auto, the two and three-wheeler manufacturer is targeting sales of 300,000 three-wheelers this year, driven by its re-entry into the cargo segment.
This will translate into a growth of 17 per cent over 254,967 units clocked in last financial year. The Pune-based company recently launched a new range of Diesel vehicles under the brand Compact, Compact+, and Maxima.
Additionally, a new Cargo vehicle on the Maxima platform was also launched in the last quarter of the fiscal.
R C Maheshwari, President (Commercial Vehicle Business) Bajaj Auto said "We have seen significant growth in the Petrol + Alternate fuel vehicle category, where Bajaj Auto has a share of 90 per cent of the market. Backed by overwhelming customer response to our new range of Diesel passenger vehicles and our strategic re-entry into the three wheeler Cargo industry with a superior product, we are now targeting leadership in the diesel passenger segment and a double-digit growth in FY17."
