Bajaj Auto to focus on increasing market share in mid-ranged market
New Delhi: After overtaking rivals HeroMoto Corp and Honda Motorcycle and Scooter India (HMSI) in the mid-end motorcycle segment in the first two months of the ongoing fiscal, Bajaj Auto is focussing to further increase market share in the category.
In order to turn up the heat on its competitors, the Pune-based firm has also reduced the price of its Pulsar 135 LS model by around Rs 4,000.
In the mid-end segment (more than 110cc to less than 150cc) of the motorcycle market, as per SIAM data, sales were at 5,90,318 units in the April-May period this fiscal, up 35.57 per cent from 4,35,412 units in the year-ago period.
Bajaj Auto sold 1,75,190 units during the period as against 94,761 units in the corresponding period last fiscal, up 84.87 per cent. On the other hand Hero Motocorp sold 1,58,304 units in the April-May period this fiscal in the segment as against 1,28,767 units in the year ago period.
HMSI sold 1,56,855 units in the same period this year in the segment as against 1,55,120 units in the year-ago period. Bajaj Auto's models, such as Discover 125, Pulsar 135LS, and the V15.
It competes with the likes of Hero MotoCorp's models such as Glamour, Super Splendor and Ignitor, and HMSI's models and CB Shine and CB Shine SP, which are priced in the range of Rs 55,000 to Rs 65,000.
"In FY 17 we're focused on increasing share in the value segment. Towards this end, we have launched the V15. This model has been very well received. Further, we have aligned the price of the P135, to reflect their premium positioning at the top of the value segment," Bajaj Auto President (Business Development & Assurance) S Ravikumar told PTI.
He, however, did not share the quantum of price reduction of the Pulsar 135LS model, which is currently quoted at Rs 58,002 (ex-showroom Delhi), it was earlier priced around Rs 62,000.
The company's new model V15, on the other hand, is priced at Rs 62,002 (ex-showroom Delhi). Ravikumar said Bajaj Auto has been able to enhance its position in the entry level segment through models like the new CT and Platina, while it has also done the same in the premium segment.
"With the new Avengers doing extremely well, we improved our market share to 47 per cent in the premium segment," he said.
In March this year, Ravikumar had said the company would launch six new products in six months in order to enhance its overall strength in the domestic motorcycle market.