Bajaj Auto is looking to sell around 50,000 units of 150CC ‘V’ bikes in the country and will decide on extending the brand to other segments after 12-18 months.
“This is the sixth brand from our stable. We expect to sell 50,000 units of 150CC commuter segment ‘V’ brand motorcycles in the next 12-18 months using metal from the dismantled INS Vikrant,” Bajaj VP Marketing (motorcycle) Sumeet Narang said here on Monday.
He said that company was ‘open to evaluate’ on whether to extend ‘V’ brand to other bike categories, but that would depend on acceptance level and to which category of consumers.
“The brand will continue,” Narang said when asked what after the Vikrant metal gets exhausted.
The official added that currently the 150CC segment ruled the sport segment.
Speaking about the sluggish market scenario, he said despite the motorcycle market remaining subdued, the three launches last year were successful to beat the market trend.
“We have launched a new model of CT-100B in January this year which costs about Rs 31,000 ex-showroom Delhi as the scope for rural penetration still remained high. Its nationwide launch is being gradually done. The CT-100 was launched last year at Rs 35,000, when industry price was hovering at Rs 40,000,” he said.
He further said the rural demand is expected to grow with the government giving impetus to the segment in the budget.
Meanwhile, for booking done between March 10 and 20, the company would attempt to deliver the bikes on March 23, the Martyr’s day.