Indian two-wheeler manufacturer Bajaj Auto is planning to revamp its Indian product portfolio. ET Auto reports that the automaker will launch new products across its seven-model product portfolio in the country.
Managing Director of Bajaj Auto, Rajiv Bajaj aims to increase the company's market share in the domestic motorcycle market. The company will aim for a 26 percent market share in the next financial year starting April 2018.
Addressing the annual general meeting, Bajaj said, "By December, we will launch new products under all our seven brands: CT, Platina, Discover, V, Avenger, Pulsar and Dominar. Our effort is to gain 6 percent market share -we have grown from 14-20 percent, we will move from 20-26 percent, and we will do this by maintaining EBITDA."
Bajaj Auto suffered a dip in sales due to various developments such as the demonetisation, BS-IV transition and implementation of GST. Now the company wants to regain the market share by introducing new products.
Bajaj Auto is likely to launch the Pulsar NS 200FI, which is currently exported to several foreign markets. Bajaj also expanded the Pulsar series by launching the NS 160 to compete in the growing 160cc segment.
Bajaj did not reveal any further information about the new products. The company stated that all the new motorcycles launched in the past 18 months had performed well in the Indian market when compared to its rivals.
Bajaj Auto is striving hard to regain the market share in the domestic market. We can expect a slew of new motorcycles across the product portfolio. Bajaj might also bring the Pulsar NS 150 to India to lure customers in the 150cc segment.