New Delhi, Sept 16: Two-wheeler major Bajaj Auto on Tuesday, Sep 16 said it has no plans for introducing any new sub-brands of its low-cost bike range.
''Bajaj is not considering launching a sub-brand for its low-cost bikes,'' Bajaj Auto CEO (Two-Wheelers) S Sridhar said in a statement. The clarification comes in the admist of media reports saying the auto major plans to re-focus on lower displacement bikes. Reports said the company is reversing its earlier decision of going upscale and focusing on the so-called executive and premium segments.
The company has also denied reports saying that 'weaning customers away from the 100cc category to the executive and premium segments has not been easy for Bajaj Auto'.
''The share of 100cc motorcycles has shrunk from, for example, about 86 per cent in FY03 to about 64 per cent in FY08. We believe this trend will not only continue but will be accelerated into the future,'' Mr Shridhar said.
Thus, Bajaj will continue to focus on the 125cc-plus motorcycle segment in which it is the leader with almost 50 per cent market share, he added.