Eric Vas, President of Motorcycle Business at Bajaj Auto, said that post demonetisation there has been a significant decline in the sales of 2-wheelers. It was 50 percent in rural India and 25 percent in urban areas.
The new variant, CT100B, delivers a fuel economy of 99.1 kmpl and comes with a two-year warranty, the company said in a statement.
Profit growth was led by low base in year-ago period. In Q2FY15, profit was hit by one time penalty of Rs 340.2 crore from Uttarkhand government on account of National calamity contingent duty case.
Three factors resulted in Bajaj Auto's market share falling off the cliff. Here's how the company is making a comeback.
Bajaj Auto‘s disappointing run continued in March, with the company saying its overall sales fell 18 percent to 2.50 lakh, compared to March 2014. But in an interview, MD Rajiv Bajaj said that a slew of recent and upcoming launches at both the economy and premium segments would help regain market share.