In September 2018, Bajaj Auto Limited reported a market share of 20.06% in the domestic motorcycle market. It has extended from 20.05% market share reported earlier in October 2014. The reduced prices of brand’s most selling commuter models- the CT100 and Platina can be considered as the reason behind.
The 20% market share was being eyed from Bajaj Auto from a long time. Also, in order to attain that mark, the brand had spent a substantial amount to develop a host of marketing and promotional strategies to boost up the growth rate.
In September 2018, the overall motorcycle sales increased by 17% for 5.3 lakhs units. Also, the total domestic sales also registered a growth of 11 % with 3.11 lakh units disposed of against to 2.81 lakh units sold in September 2017. The three-wheeler sales also observed a rise of 20% with 71,070 units sold last month as compared to the corresponding month previous year.
The flagship Bajaj range of motorcycles like Pulsar, Avenger and Dominar see a price hike. An outcome of the Supreme Court new order on two wheels over third-party insurance up to 5 years. It results in price hike by at INR 3,000 starting from 1st September 2018.
Rakesh Sharma, Chief Commercial Officer, Bajaj Auto has already touted over price hike across some models that the company tried to manage this hike by introducing cheaper variants. Also, it will sport in maintaining the balance between growth and profitability.
Besides of these efforts, Bajaj has not been able to confront Hero MotoCorp which leads the market with an outstanding 58.5% stakes in the market. As reported, Bajaj Auto has sold 9.5 lakh units in FY18 that is just a half of Hero MotoCorp sales at 18.8 lakh units.