Riding high on overwhelming response to V15, Bajaj Auto is now gearing up to dominate value segment 150 cc motorcycle market. The company is already considering the launch of 2 new bikes under the V brand by the end of the 2017-18 fiscal.
"In the value segment, our market share is quite low. V is the single biggest opportunity for us to better our share in the value segment. We will launch a new SKU from same platform over the next 18 months at a gap of every sx months. We will have a very strong foothold in this segment," said RajIv Bajaj, managing director, Bajaj Auto. He was speaking at annual general meeting of the company at Akurdi in Pune.
The motorcycle is made up of INS Vikrant's scrap metal, achieved the one lakh sales milestone recently. has lead to a 10 per cent growth in Bajaj Auto's market share in the premium commuter 150cc plus segment. Since its launch earlier this year, the homegrown two-wheeler manufacturer has sold an average of 25,000 units of the Bajaj V every month.
Given the Bajaj V's success in India, the company is already considering the launch of two new bikes under the V brand by the end of the 2017-18 fiscal. However, Rajiv Bajaj cleared his stand on scooter segment saying that the company has no plans to re enter in the scooter market.
"We dot have any plans to re enter onto scooter segmant. Monthly domestic motorcycle market is of 8-9 lakh units per month. Bajaj does some 1.5 lakh motorcycles per month. So there is a potential to do 7 lakh per month. Scooter market is 4,00,000 per month and so it is logical for us to chase the m/c market than the scooter market. We dont was loose mony in scooter which we make in motorcycle " he added.
Bajaj Auto is also eying ASEAN market which has a potential of one million units. It will enter in ASEAN markets with new product, newmarket strategy, pricing and distribution. Next month, the company wll be unveiling Pulsar 400, Bajaj believes it will bring the same revolution in the market that Pulsar 150 and 180 ushered in when it was launched 15 years ago. " We believe it will disrupt the market."