Earlier last month, Bajaj Auto launched its new premium commuter brand V in India with an all-new motorcycle V15. Introduced at a starting price of Rs. 62,000 (ex-showroom, Mumbai), the Bajaj V15 brings with it a part of Indian heritage as the bike comes barring the metal of India's first aircraft carrier, INS Vikrant that was scraped a couple of years back. Now, the home-grown two-wheeler has announced that it is looking to sell around 50,000 units of 150cc 'V' bikes per month in the country in the next 18 months.
Apparently Bajaj is currently weighing its options on extending the brand to other segments after 12-18 months. Eric Vas, President Motorcycle Business, Bajaj Auto has informed carandbike that the company is currently aiming 50,000 a month, but they don't have capacity for it now at their Chakan facility. Vas even added that "if there's demand we will soon ramp up production to 50,000 a month."
Commenting on the same, Sumeet Narang Vice President Marketing (motorcycle), Bajaj Auto said, "This is the sixth brand from our stable. We expect to sell 50,000 units per month of the 150cc commuter segment 'V' brand motorcycles in the next 12-18 months using metal from the dismantled INS Vikrant," Talking about the brand's expansion plans, Narang said the company was 'open to evaluate' on whether to extend 'V' brand to other bike categories, but that would depend on acceptance level of the V15 and to which category of consumers. As for what will be scenario after Bajaj exhausts all the metal salvaged from Vikrant, Narang said that "The brand will continue."
Naragn also added that currently the 150CC segment ruled the sport segment. Speaking about the sluggish market scenario, he said despite the motorcycle market remaining subdued, the three launches last year were successful to beat the market trend. "We have launched a new model of CT-100B in January this year which costs about Rs. 31,000 (ex-showroom, Delhi) as the scope for rural penetration still remained high. Its nationwide launch is being gradually done. The CT-100 was launched last year at Rs 35,000, when industry price was hovering at Rs 40,000," he said.
Also Read: Bajaj V, Made of INS Vikrant's Scrap Metal
He further said the rural demand is expected to grow with the government giving impetus to the segment in the budget. Meanwhile, for booking done between March 10-20, the company would attempt to deliver the bikes on March 23, the Martyr's day.
