Bajaj ‘V’ exports to start next fiscal, post domestic commitments

We have been getting a lot of enquiries from our major export markets in Africa, Latin America. West Asia and Turkey, says Sumeet Narang, Vice president (Marketing), Bajaj Auto Ltd The Dollar Business Bureau

The 150v Bajaj V’, made of metal from dismantled India’s first aircraft carrier INS Vikrant, was launched on February 1, 2016.

In an expansion move, automobile major Bajaj Auto Ltd. has recently announced that export of its latest commuter vehicle- ‘Bajaj V’ would happen in the next fiscal only after domestic commitments are met. Sumeet Narang, Vice president (Marketing), Bajaj Auto Ltd, has reportedly given an official confirmation in this regard. "We are looking at exports of Bajaj V. Post its launch, we have been getting a lot of enquiries from our major export markets in Africa, Latin America, West Asia and Turkey. But exports would begin only after we have catered to the demand from the customers within the country. I hope exports of the bike to take off from next fiscal," reportedly said Sumeet. According to sources, the company is targeting a sale of 10,000 ‘V’ bikes in the country during booking window period, i.e., from March 10-20 and is eyeing at a sale of around 50,000 units of 150cc capacitive ‘V’s per month in the next 12-18-month period that are expected to be priced around Rs. 60,000-70,000 in the first sale. "40% of the bikes sold in Odisha are in the 125 cc segment. Bajaj is selling 3300 bikes every month in the state and with the introduction of V, we hope to double our sales volume in 12-18 months," said Narang, according to the reports. The 150CC ‘V’, made of metal from dismantled India’s first aircraft carrier INS Vikrant, was launched on February 1, 2016. It is noteworthy that the Auto sector contributes to 45% of manufacturing GDP, 26% to industrial GDP and 7.1% to the national GDP. According to the Ministry of Heavy Industries, the Auto sector has made around Rs.70,000 crore investment in the last five financial years, witnessing a $ 124 billion turnover in FY 2014-15. And, by considering a modest 10% growth in the current year, the industry is expected to witness a $136 billion turnover, thus meeting 94% target requirement set for it in the Automobile Mission Plan (AMP) 2006-16 till 2016.

March 10, 2016 | 04:00pm IST

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The Dollar Business Bureau - Mar 10, 2016 01:10 IST

Bajaj ‘V’ exports to start next fiscal, post domestic commitments

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