With increasing competition from domestic as well as multinational two-wheeler majors including Honda, Pune-based Bajaj Auto has embarked on a journey to ensure an increase in its domestic market share.
“The company is aiming to increase its domestic market share from 16.5 per cent in FY15 to over 21 per cent in FY16,” company officials indicated during the annual general meeting held recently.
The company has already received good response to its recently launched entry level bikes Platina and CT100, and is planning to introduce a new bike in the commuter segment within the next five to six months where Hero Motocorp is the sole market leader with a market share of over 60 per cent.
Bajaj also indicated that it will continue its aggression as far as exports are concerned. During the AGM, the management said that it is planning to pursue new market in Africa, Asia and North America and that it is targeting exports of two million units in FY16. The company had exported 1.8 million vehicles in FY15, which constituted 44 per cent of its total volume. The management also defended its decision to exit the scooter segment and has chosen to focus on the global motorcycle market.
Bajaj Auto has 16.5% domestic market share The company plans to introduce a new bike in the commuter segment It is targeting exports of two million units in FY 16 The company wants to focus on global motorcycle market