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Pune-based Bajaj Auto, India's third biggest domestic two-wheeler seller, is targeting 27-30% share of the local motorcycle market based on a series of launches planned in the coming months.
Kevin D'Sa, chief financial officer, Bajaj Auto said in an interview to CNBC TV18, "Our domestic market share presently stands at around 24% and we would like to take it to 27-30%".
The targeted share is a significant increase from the current levels even as the Rajiv Bajaj-led company suffered a 3% fall in sales so far this financial (till February end) at 2,282,371 units.
The industry sales have, however, increased by 3.85% to 12,696,690 units during the same period. Rivals Honda Motorcycle and Scooter India (HMSI) recorded the maximum jump in sales during the same period growing 33% at 2,366,992 units.
Bajaj Auto is not present in the automatic scooter segment which has so far this year recorded a growth of 16% as against a near-flat growth of one% of the motorcycle segment. Whereas HMSI has a stranglehold in the scooter segment where every second vehicle is made by the Japanese company.
Bajaj Auto recorded its biggest monthly fall in sales this year with 12% decrease in February at 178,632 units in the domestic market. The slowdown, however, will not put any pause on launch plans of the company.
Bajaj will launch several new motorcycles in the next financial year including premium performance bikes under the flagship Pulsar brand and commuter and economy segment bikes under the Discover brand.
The company's stock is trading at a three months low at Rs 1,827.10 on the Bombay Stock Exchange at 12.25pm, down 1.37% as compared to its previous day's close.
