The motorcycle market has witnessed negative growth of minus one per cent in the first-half of the financial year for the first time in the last five years. The first-half analysis also reveals that the market may not revive in the near future.
Talking to reporters after launching the company’s new dealership showroom in the city, K Srinivas, president of Bajaj Auto said that the sale in the industry has drastically come down, which has affected all the manufacturers.
“The sale that was close to eight lakh per month has come down to seven lakh per month. Though the market started to diminish in November last year, other companies continued manufacturing. As a result they will have to withhold production for around five months due to excess stock,” he said.
Analyzing the market fall, Srinivas said that Bajaj has increased its market share from 25 per cent to 27 per cent even in the crisis. Moreover, he also said that its brand Discover has overtaken Splendor as the largest selling motorcycle brand in the world in September.
“As per the data for the first eight days in the Navarathri season, Bajai has grown 6 per cent when the market is going down. The three new products launched in the year have brought this result to the company,” said Srinivas.
