Eyeing 25 per cent share in the Indian motorcycle market, Pune-based Bajaj Auto will invest Rs 575 crore this fiscal, a major chunk of which will be used for launch of new products.
The company, which is currently strong in the entry level and top-end performance segment of the bike market, is looking to strengthen presence in the mid-executive segment dominated by market leader Hero MotoCorp. “The capital expenditure for this fiscal will be around Rs 575 crore. This will be mostly for launching new products and requisite toolings,” Bajaj Auto President (Business Development & Assurance) S Ravikumar told. When asked about the new product launch programme, he said: “We are planning to launch an upgrade for the Platina (entry-level model) and a totally new Pulsar at the top-end in the next quarter.” The Indian motorcycle market stood at 1,07,00,466 units in 2015-16 as against 1,07,26,013 units in previous fiscal, down 0.24 per cent.