Seeing the flat growth in the motorcycle industry in the last three quarters this financial year, the projection for the next fiscal looks similar. The industry may continue to report flat growth in the near future also, according to K Srinivas, president (motorcycle business), Bajaj Auto Limited, India’s second largest motorcycle maker.
While the automobile industry is seeing a negative growth, the motorcycle segment has seen a flat growth of around 1 per cent. “Even the industry body Society of Indian Automobile Manufacturers (SIAM) keeps changing its projections. Now, the market is in such a situation where nobody can predict,” he said.
SIAM on Wednesday cut its growth forecasts for two-wheelers to three-five per cent citing weak macroeconomic conditions from 5-7 per cent previously.
Despite the slowdown, the two-wheeler market is around one million including exports and domestic sales. “As there are only five-six players in the segment, the market still has a lot of growth potential,” he said launching its new offering ‘Discover 100T’, its advanced 100 cc bike, in the Andhra Pradesh market.
During the current financial year, Bajaj Auto launched three models, including Pulsar 200 NS and Discover 125ST. With the fourth offering, the company expects to gain a higher market share.
“The three launches have helped us in taking the market share to 26 per cent from 24 per cent,” Srinivas said, adding the company had lined up aggressive product launches in the next financial year.