Bajaj Auto Ltd managing director Rajiv Bajaj has signalled at an entry-level CNG bike, a cheaper option to offset the high petrol prices, a report by CNBC-TV18 said.
“Who knows maybe a CNG Bajaj motorcycle that halves people's (bike) running costs would be the answer with a little help from the government,” Rajiv Bajaj told CNBC-TV18 in an interview.
The Bajaj Auto MD also said that entry-level buyers who were affected by the pandemic, job losses and rising petrol price, are not coming back.
“The entry segment, which is the 100cc motorcycle, continues to be under pressure for the industry as a whole,” Rajiv Bajaj said in the interview.
Bajaj Auto had said that over 70% of its sale volumes are of bikes that are more than 125 cc bikes.
According to Bajaj Auto’s website, the company has seven bike models between 100 and 125 cc entry level segment, priced in the range of ₹67,000 and ₹107,000.
Bajaj Auto, which compete with the Yamaha, Suzuki, TVS and the Hero in the bike segment, had announced six new upgrades and a new Pulsar model to be rolled out this year.
Bajaj further said that interest in fuel-based bikes is falling due to electric vehicles.
In August, Bajaj Auto's total two-wheeler sales declined 20% at 285,031 units from 355,625 units sold in August 2022.
Two-wheeler exports, however, rose 2% in August.
Bajaj Auto had said that its total vehicle sales, including sale of commercial vehicles, declined 15% at 341,648 units in August.
The company had reported total sales of 401,595 vehicles in August last year.
The total domestic sales dropped 20% at 205,100 units in the previous month as compared to 256,755 units sold in August 2022.
Its total vehicle exports fell 6% year-on-year at 136,548 units in August from 144,840 units in the year-ago period.
(With inputs from agencies)
