Financial Daily from THE HINDU group of publications
Sunday, Apr 09, 2006
Financial Daily from THE HINDU group of publications Sunday, Apr 09, 2006 |
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Corporate
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Outlook Marketing - New Products & Services Bajaj Auto launches 100cc bike Platina Our Bureau
RIDING HIGH: Mr Rajiv Bajaj, Managing Director, Bajaj Auto, at the launch of ` Platina' in the Capital on Saturday. — Kamal Narang
New Delhi , April 8 Bajaj Auto Ltd on Saturday launched a new 100cc bike `Platina' with an aim to garner higher margins in the entry-level segment. "Platina is a high functionality, low maintenance bike and offers much better margins than CT100," the Managing Director, Mr Rajiv Bajaj, said. The bike, whose two variants are priced at Rs 34,000 and Rs 36,000 (ex-showroom Delhi), is the company's latest entry-level offering where it also sells the popular `CT100' model. The company expects to sell 70,000 to 75,000 units per month and around 25 lakh units of the Platina this fiscal, and gradually make it the largest selling bike in its portfolio. Baja Auto is also setting up a new plant in Uttaranchal where it hopes to produce additional 10 lakh units of the Platina. On the operating profits and market share of the company, Mr Bajaj said: "Over the last two years, we have increased our market share from 24 per cent to 31 per cent along with increased operating margins which have grown from 15-16 per cent to 17 per cent, the best in the industry." Mr Bajaj is of the view that the launch will result in almost 50 per cent diversion of sales from CT100 to Platina.
CNG, LPG 2-wheelers
The company also plans to launch CNG and LPG two-wheelers over the next 12 months and four-wheel cargo vehicles by 2008-09. ``What we are developing is a dual-fuel two-wheeler which will, apart from CNG/LPG, also have the option of running on petrol,'' Mr Bajaj said. About exports, he said the company expected a 33 per cent growth in exports this fiscal to around 3.6-lakh units against last fiscal's 2.5-lakh units.
Related Stories: More Stories on : Outlook | New Products & Services | Two/Three Wheelers | Bajaj Auto Ltd
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