New models boost Bajaj market share

Bajaj Auto is targeting a market share of 22-23 per cent in the motorcycle segment by end of the current financial year

New models under the Avenger and Pulsar brands, combined with the V15, have collectively pushed the market share of Bajaj Auto to a five-month high in the motorcycle segment.

Domestic sales of the Pune-based motorcycle major grew 23 per cent last month, compared with the industry growth of 16 per cent.

Bajaj sold 1.12 million bikes during the six months ended September with 18 per cent growth compared to 12.6 per cent by the industry, according to data shared by the Society of Indian Automobile Manufacturers.

At 19.4 per cent in September, Bajaj Auto’s market share growth was among the fastest of all motorcycle makers. Chennai-based TVS Motor, too, posted a healthy growth last month, with market share closing at 8.17 per cent.

The V15, whose tank is partially made from the metal sourced from de-commissioned warship INS Vikrant, has proven to be among the best sellers for the company. In addition, the new range of Avengers comprising three models also brought new customers.

Eric Vas, president (motorcycle business) at Bajaj Auto, said: “Retail sales are decent and in line with our expectations. Festivals are expected to be stronger. It’s heartening to see that the 100-cc models are doing well where we are collectively selling 100,000 units of the CT 100 and Platina.”

Bajaj Auto is targeting a market share of 22-23 per cent in the motorcycle segment by the end of the current financial year.

While most bike makers managed to report a slight increase market share, Hero MotoCorp, the country’s largest two-wheeler maker, suffered a loss in market share. From 52 per cent in September last year, Hero’s market share dipped to 48 per cent in September this year.

Bajaj hopes its market share will go up thanks to the new launches lined up in the coming months. These include derivatives of the V platform as well as new additions to the Pulsar brand.

The company is gearing up to launch the biggest, most powerful and most expensive Pulsar to date, which will have a 400-cc engine, in the coming weeks.

“We’ll have to see the trends post the festivals if the momentum is sustained. New launches on the V platform and other launches are expected to push Bajaj’s market share to 22-23 per cent by the end of this financial year,” added Vas.

Good monsoon, a pick-up in rural spending, roll-out of the Seventh Pay Commission and a host of new launches are expected to keep the sales momentum of two-wheelers high this year.

“Strong wholesale billings-led motorcycle volume growth is driven by inventory build-up on expectation of strong sales in the festive season on the back of a good monsoon as well as the pay commission payout,” said an Edelweiss report.

IN THE FAST LANE

• V15, Avenger lead the surge
   
• Pulsar range, CT100 and Platina also get demand boost
   
• Bajaj Auto targeting 22-23% market share by year-end
   
• Current market share at 19%
   
• New launches on V15 platform and Pulsar in the coming months