At the start of the year, Bajaj Auto was 10 percentage points behind market leader Eicher Motors in the premium two-wheeler category or the "upper-half." Now, fast-forward to the fourth quarter, the company has closed the gap by eight percentage points and is marginally away from the pole position.
The rapid rise in market share is an outcome of a slew of well-targeted new launches, nine of them in FY24, spanning the 125cc to 250cc to cater to all segments of customers.
ALSO READ: Domestic industry to grow 7-8% but Bajaj will race ahead faster, says a confident management
That's not it as the company is on track to launch six new models in the first half of FY25, beginning with the biggest Pulsar in early May. The Pune-based two-wheeler major wants to set a "relentless pace" and ensure that its always top of mind of this customer, the management stated in its post-results conference call.
READ MORE: Infosys gives revenue guidance of 1-3% for FY25
The company is also planning to launch the world's first CNG bike, which will halve the commuting expenses. "The mileage conscious customer is spread across the 100 cc to 125 cc commuter segment and is well over 600,000 units per month. Over 60 percent of this is covered by the CNG infrastructure, hence the opportunity is exciting. With this we will have a position in all the motorcycle segments setting us up to continue to grow faster than the industry," the company said said after its Q4 results.
Besides fuel economy, the bike will have a standout style best in class comfort and a dual fuel capability with both CNG and petrol fuel options on the same vehicle.
It has been a year full of records for the automobile giant as it has clocked the highest-ever revenue, EBITDA, and net profit. Furthermore, the company has clocked record Pulsar and KTM volumes in India in FY24.
Bajaj Auto shares have surged by 33 percent since January this year and nearly doubled in the last 12 months, outperforming the NSE Nifty 50. It trails only Tata Motors, which has delivered over a 100 percent return during the same period. Bajaj Auto's rally has also outpaced that of Hero MotoCorp and Eicher Motors.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
