To boost sales, Bajaj Auto will be introducing multiple new / updated products over the next 3-4 months
Bajaj enjoys a solid command over both domestic and international markets. While the Pulsar range continues to be a favourite, Bajaj EV sales are also registering strong growth. Going forward, Bajaj will implement a multi-pronged strategy to target the 125cc+ motorcycle segment and electric two-wheeler space. A pioneering CNG bike is also under development.
Pulsar NS400 incoming
As announced earlier, Bajaj will be introducing 6 new Pulsar bikes by March 2024. It will include updated versions of N150, N160, N250 and F250. Bajaj will also launch NS400, which will be the biggest Pulsar ever. It remains to be seen if it will be based on the Dominar 400 platform or Triumph Speed 400. An entirely new platform could also be used for Pulsar NS400.
Bajaj will continue to focus on 125cc+ motorcycle segment, as this is where the brand has been getting max traction. In October to December 2023 period, Bajaj’s 125cc portfolio registered 3X growth in comparison to average industry rate. Its market share zoomed to 31 percent. The 125cc+ segment also holds significant future potential. By targeting this space, Bajaj can improve its market share and margins. Overall, Bajaj’s growth rate in the domestic motorcycle segment in October-December 2023 was twice that of industry rate.
New Chetak variant launch soon
Bajaj recently updated the Chetak range, wherein the Premium variant now offers new features and higher range. Bajaj will soon launch another new Chetak model. It remains to be seen if the new Chetak model will be a premium lifestyle product or an entry-level, affordable scooter priced under Rs 1 lakh. The existing Chetak Urbane and Premium variants are available at a starting price of Rs 1.15 lakh and Rs 1.35 lakh, respectively.
Chetak sales have been registering strong growth in recent times, with market share rising from 5% to 14% in just around a year’s time. Bajaj electric scooter sales are currently at around 10,000 units, in comparison to 3k to 4k units at the start of the financial year. Bajaj is looking to improve further, with sales of 15,000 units per month by March 2024.
Bajaj CNG bike
Bajaj is working on a new CNG powered bike, expected to be launched in the next financial year. It could be a gamechanger if made available at an affordable price point. Operating costs will be low and there won’t be any worries about fuel getting stolen. Complying with stricter emission norms will also become easier.
Bajaj to increase production of Triumph bikes
Triumph Speed 400 and Scrambler 400 X have been registering strong sales across both domestic and international markets. With increased demand, Bajaj will be increasing production of these bikes. As of now, around 10,000 units are manufactured every month. Production will be increased to around 30,000 units per month by the first half of the new financial year. To boost sales, Bajaj will also be doubling the number of outlets for Triumph Speed 400 and Scrambler 400 X. Currently, the bikes are available across 41 cities in India.
Source: Bike - rushlane.com
