India's second largest two-wheeler manufacturer, Bajaj Auto, which has currently a market share of 27 per cent, is expecting to get hold of one third of the total domestic bike market over the next couple of years.
“We are aiming around four per cent increase in market share by the end of this financial year, so this will be over 30 and from thereon we will be having one third share of the total domestic bike market soon,” S Sridhar, President, Motorcycle Business, Bajaj Auto said on Thursday on the sidelines of the launch of its new Discover 125 cc bike here.
However, Sridhar mentioned that the company had already one third of the market share if export is taken into account. Bajaj exports around 80,000 bikes monthly to some of the African and South American countries apart from its exports to neighbouring countries like Bangladesh and Nepal where it is the largest exporter.
Bajaj which is a market leader with almost 50 per cent market share in sports bike segment, is now also planning to focus on mid-level commuter deluxe segment which accounts for the 66 per cent of the total motorcycle business to achieve the target of one third market share.
“There are three segments in bike – sports, commuter deluxe and entry level segment. We are at the top of the sports segment with Pulsar and want to focus on that segment. Now we are also concentrating on mid-level commuter deluxe segment which accounts for the 66 per cent of the total bike business with products like Discover,” he said.
Sridhar also pointed out that the company had experienced huge growth in the mid-level bike segment in last two years.
“Two years back we were having only about 7 to 8 per cent of the market share in the mid-level segment, now this is over 20 per cent and will be around 24 per cent at the end of this fiscal,” he added.
He also said that, Bajaj KTM which develops high-end bikes for the Indian market, would launch their bikes by the end of the financial year.
Speaking on the company's venture into the entry-level segment, Sridhar said, Baja will be re-introducing entry level commuter bike, the Boxer with modified feature in the domestic market in the second quarter of this fiscal.“The Boxer will be re-launched in the second quarter of this financial year. But this time it will not be a 100 cc bike, but will be a more stronger one and will offer good mileage too,” he said.