New models under the Avenger and Pulsar brands combined with the V15 have collectively pushed the market share of Bajaj Auto to a five month high in the motorcycle segment.
Domestic sales of the Pune-based motorcycle major grew by 23 per cent during last month much higher than the industry growth of 16 per cent in the motorcycle segment during the same month.
Further Bajaj sold 1.12 million bikes during the six months ended September with a growth of 18 per cent compared to 12.6 per cent posted by the industry during the same period in the motorcycle segment, according to data shared by the Society of Indian Automobile Manufacturers.
With 19.4 per cent during September Bajaj Auto's market share growth was amongst the fastest among all motorcycle makers. Chennai-based TVS Motors too posted a healthy jump during last month with a market share closing at 8.17 per cent.
The V15, whose tank is partially made from the metal sourced from decommissioned warship INS Vikrant has proven to be amongst the best sellers for the company. In addition, the new range of Avengers comprising three models, have also brought new customers.
Eric Vas, president (Motorcycle Business), Bajaj Auto said, "Retail sales are decent and in line with our expectations. Festivals are expected to be stronger. It is heartening to see that the 100cc are doing very well where we are collectively selling 100,000 units of the CT 100 and Platina."
Bajaj Auto is targeting a market share of 22-23 per cent in the motorcycle segment by end of the current financial year. While most bike makers managed to report slight increase market share Hero Motocorp, the country's largest two-wheeler maker, suffered a loss in share. From nearly 52 per cent share in September last year Hero's share dipped to 48 per cent in September this year.
Bajaj aims to garner increase in market share from the new launches lined up in the coming months. These include derivatives of the V platform as well as new additions to the Pulsar brand. The company is gearing up to launch the biggest, most powerful and most expensive Pulsar to date which will have a 400cc engine, in the coming weeks.
"We will have to see the trends post the festivals if the momentum is sustained. New launches on the V platform and other launches are expected to push Bajaj market share to 22-23 per cent by end of this financial year", added Vas.
God monsoon, pick up in rural spending, roll out of the Seventh Pay Commission and a host of new launches are expected to keep sales momentum of two-wheelers high this year.
"Recent strong wholesale billings led strong motorcycle volume growth is driven by inventory build up on expectation of strong sales in the festive season (Dashera and Diwali) on back of good monsoon as well as 7th Pay Commission payout", said a report by Edelweiss.