Bajaj Auto delivered yet another strong retail YoY growth of 28% in January 2024. Market leader in premium motorcycles in India reported negative retail growth in January 2023 and since then has been in a positive zone. Retail growth was in single digits only in February, April and October 2023. For the rest of the year, Bajaj Auto was a consistent strong double-digit performer. Lower retail growth in October was due to the delayed festive season (Navratri-Dussehra-Diwali) in 2023.
Bajaj Auto’s retail growth is powered by its 125cc+ segment where Bajaj Pulsar rules. This segment accounts for 50% of the industry and for Bajaj Auto, it accounts for 70% of its retail. Bajaj Auto’s market share in this segment is at almost 31%. Within this segment, the company has a strong position in the 150- 250cc sports motorcycles where Pulsar has about 40% market share on the back of a highly successful N-Series launch.
Apart from the domestic motorcycle business, electric scooter (Chetak) business is also doing well. According to the management, Chetak bookings have hit 11,000 units in January 2024. The company plans to enter 200 new cities and touch 15,000 units in the next few months.
