Bajaj launches new 100 cc bike
New Delhi, Apr 8 (UNI) Two-wheeler major Bajaj Auto Ltd (BAL) today launched a new 100cc bike, Platina, with an aim to dent Hero Honda's leadership position in the entry-level segment.
With a price tag starting at Rs 34,000 (ex-showroom Delhi), Bajaj will compete with Hero Honda's 100 cc bike 'Splendor'.
''The launch of 'Platina' will redefine current standards and will further strenghten Bajaj Auto's presence in the large 100-110cc segment,'' Bajaj Auto Vice President Marketing, Two-Wheelers, S Shridhar said.
Bajaj, which has a 27 per cent market share in the entry level bike segment, targets to sell 50,000 Platina's during the first month itself.
''Later on we would like to take it up to 70,000 units a month,'' Mr Shridhar said Asked whether the company was planning to phase out the CT 100, Bajaj Auto Managing Director Rajiv Bajaj said, ''CT 100 will continue to exist. Platina caters to the higher end of the 100cc segment.'' He also said that the company is working on its second offering in the executive segment which will be launched next year.
Meanwhile, Bajaj Auto is ramping up its motorcycle capacity to 450,000 units from 350,000 units by April 2007.
Talking about exports, Mr Bajaj said the company's exports grew by 30 per cent in the last fiscal. ''This year we are aiming at a growth of almost 33 per cent. We are also looking at new markets in south east Asia,'' he said.
The new 100 cc bike comes in two versions with the low-end bike priced at Rs 34,000 (ex-showroom Delhi) while the high-end version with alloy wheels is tagged at Rs 36,000 (ex-showroom Delhi).
Bajaj also sells the 'Discover' and 'CT 100' in the segment.
UNI SR SS VC1816