In Q1 FY23, Bajaj Auto reported a profit of Rs. 1,173 crore at a jump of 11 per cent on YoY and the revenue increased 8 per cent to just over 8,000 crore. However, the volumes dropped by 7 per cent amidst the operating profit margin expanding 100 bhp to 16.6 per cent. The Chakan-based manufacturer expects the semi-conductor shortage to continue till the end of 2023.
In FY24, Bajaj is planning to launch a new volume-based motorcycle in the below 125 cc segment in India under the AI (Affordable Inspiration) initiative and it will target a sizeable market share. The company will also bring in one new Chetak every year for the domestic as well as international markets encouraged by 6,200 unit sales of the electric scooter last quarter.
The brand has gained 16,000 reservations for the Chetak across the country. The complete product range of KTM and Husqvarna will be renewed and it may also include the debut of GasGas motorcycle and electrified motorcycles. The new generation KTM RC200 and RC390 are already here in India while the all-new Duke range of 125 cc, 250 cc and 390 cc motorcycles are under development.
They are expected to debut sometime next year and India will be considered as one of the top priority markets for them judging by the volumes they bring in. Bajaj-Triumph partnership has been subjected to plenty of speculations in recent times and the first product will be launched in 2023 and for which a new manufacturing unit is coming up at Chakan.
Bajaj Auto and Triumph Motorcycles formalised a deal in 2020 and last year, it was said that the first motorcycle from the alliance would be delayed by six to nine months due to the global health crisis. Earlier this year, the first ever spy images of what appears to be a scrambler came up on the internet from the United Kingdom.
It appears that Bajaj and Triumph are developing two sub 500 cc motorcycles as one had the shades of the Street Twin and the other looked like the scrambler drawing inspiration from the Bonneville family. With KTM’s 490 cc project reportedly shelved, the upcoming range of Bajaj-Triumph motorcycles will play a significant role for both brands in India as well as foreign markets.