Bajaj Auto is set to launch four new motorcycles in the market soon as part of its plans to capture over 22 per cent share by the end of this fiscal.
The company will be expanding its Avenger range of cruiser bikes through introduction of three new models this month.
“Besides, in the fourth quarter of this fiscal, we will launch a completely new model that will be in the mid-segment of the motorcycle market,” Bajaj Auto President (Business Development & Assurance) S Ravikumar told PTI.
With these four new products, he said, “In the short term, we are looking at increasing our market share in the domestic motorcycle segment to over 22 per cent from the current 19 per cent.”
Ravikumar, however, did not share details of the upcoming products.
In April-September of this fiscal, Bajaj Auto sold 9,55,148 units, a marginal increase from 9,52,492 units a year ago.
Total domestic motorcycles sales during the period stood at 53,64,391 units as against 55,91,328 units in the year-ago period, down 4.06 per cent.
On market conditions, he said the impact of slowdown in the rural demand has affected the motorcycle industry.
“Even the festive season is not seeing anything great,” he added.
Besides negative sentiment, deficient monsoon has hurt demand from rural market, affecting motorcycle sales.