Bajaj, the giant Indian two-wheeler manufacturing firm is reportedly planning to launch new bikes under all its 7 brands including CT, Platina, Discover, V, Avenger, Pulsar and Dominar by the end of December 2017. The company has decided to take the step in order to gain a 6 percent market share, which is currently around 20 percent.
Recently, the shareholders of Bajaj at the AGM (Annual General Meeting) had questioned the company’s current market position in India, which had fallen to 15 percent in the April-June quarter. Bajaj stated that its current market share falls somewhere nearly 20 percent and that would be made clear by the next quarter.
In the past few months, the company saw a downfall in sales in the domestic market, which was due to many reasons including, demonetization, ban on the sale and registration of BS3 vehicles, and implementation of GST. Still, Bajaj says that it did not have to force its sales executives in the dealerships to clear out all the BS3 compliance stock, as the stock was very low. According to the company, things are again getting back in line.
Currently, the company is working hard to recover its exports as well as to enter into new and large markets that will contribute to the additional volumes. If we talk about the competition in the domestic market, the company’s new offerings in the past 18 months have done a good job. Bajaj V, Pulsar NS 160 and Dominar has boosted up the sales of the company from 22,500 units to 25,000 units a month.
Apart from this, the company has also got the permit of 3-wheeler opening to start selling quadricycles, which is also believed to make a positive impact on the Bajaj brand.
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