Bajaj Auto in December 2014 had set a target to achieve market leadership at the entry level and sports bikes segments in 2015, and the company on 7 January, 2016 (Thursday) announced that it has attained the said target. Bajaj claims its market share in the entry level segment grew from 23% to 36% in the first nine months against the target of 35%.
Inspired by the stellar performance, the company has decided to reduce the price of its commuter motorcycle, the CT100, to below Rs 35000. The motorcycle, which is already the most affordable motorcycle from Bajaj's stable, is currently priced at Rs 35,034 for the spoke wheel model, while the alloy wheeled model is priced at Rs 38,034.
In addition to the price reduction for the CT100, Bajaj is also working on a Platina model that is expected to return a fuel efficiency of over 100kmpl. The model, which is in development, will be launched in 2016. With the new launches, the company is setting 45% segment share for 2016 end. The Pune-based two and three wheeler manufacturer is also expected to launch 4 to 5 new products in different price points and segments this year.
The company is planning to roll out an all-new brand in the executive bike segment, while the premium segment will see a new motorcycle that will be priced over Rs 1 lakh. "We are stretching the envelope at both end commuter and premium but our biggest focus is going to be on the new brand in the executive segment this year, which will give us incremental volumes," said Eric Vas, President for motorcycle business at Bajaj Auto according to The Economic Times.
