The worst is behind in terms of sluggish domestic motorcycle sales, feels Rajiv Bajaj, MD, Bajaj Auto . In an interview to CNBC-TV18's Latha Venkatesh and Sonia Shenoy, Bajaj said July was the bottom in terms of sales numbers, and that motorcycle sales were set to grow 20 percent month-on-month over the next 3-4 months.
"When I speak of 20 percent plus volume growth month on month for the next three-four months, the market is not going to grow at that rate," Bajaj said.
"So certainly on the back of new product, if not all, the market share we have lost is going to come back," he said.
Bajaj said the company has bagged an order for 40,000 Discover motorcycles, and is aiming to clock export sales of 1.85-1.90 lakh units next month, compared to 1.69 lakh units in July.
He said there was an uptick in Pulsar's market share in its segment to around 46 percent in July.
Below is the edited transcript of Rajiv Bajaj's interview with Latha Venkatesh & Sonia Shenoy
Sonia: Another month running that the domestic sales have lagged street's expectations, do you think the recovery process is getting slow especially for Bajaj Auto?
I do not think so. We have been saying consistently over the last few months in the domestic segment the Discover segment is a very large portion of that and that is what we have to get right once again and we will see that from this month now that the new Discover 150 is in the market; we started production last month and we are going to ramp it up this month and I would stick my neck out and say that over the next three-four months from this level of July, which I would consider as rock bottom, we should see domestic motorcycle sales going by almost 20 percent month on month.
Latha: On the export front things have sparked up very nicely. How do you see the trend?
We exported about 170,000 vehicles last month and that's probably the highest ever for us. The next two months would be somewhat higher, closer to 185,000-190,000 not only because all markets are doing well for once but we have unusually large order from the Sri Lankan government for over 40,000 Discover and that is nice for the Discover because the export margins are more than double what it is in the domestic market. So, with that coming in, with the other African markets doing well, Latin America doing well, exports will be just shy of 200,000 a month for the next couple of months.
Latha: Coming back to the domestic markets – good to hear that July would perhaps be the trough but what about market share, there you are still losing. So even if overall demand went up, are you going to get a lion share of the incremental demand?
I certainly expect so because when I speak of 20 percent plus volume growth month on month for the next three-four months, the market is not going to grow at that rate. So certainly on the back of new product, if not all, the market share we have lost is going to come back.
Sonia: Tell us what the plan is as far as taking up your motorcycle market share. Currently as per the Society of Indian Automobile Manufacturers (SIAM) data your motorcycle market share in Q1 stood at less than 18 percent and that drag down your overall two-wheeler market share to about 12.5 percent, something that we haven't seen in a very long time. What is the game plan? Is it only with this one Discover that you think your motorcycle market share will recover or are there some other aces that you have up your sleeves?
It will be primarily lead by new Discover and when I say that's in keeping with what usually happens, successful brands like Splendor, Activa, Pulsar, Maruti are largely driven by one or two big successes, so I am expecting that to happen with Discover also and all said and done in the domestic market the Platina and the Pulsar continue to hold their own, Platina at about 25 percent market share, number two in its segment, Pulsar continues to lead in the segment. I do not know the data for July yet but I do know that in June we saw nice uptick in the Pulsar market share to about 45-46 percent in the domestic market. So, I would like to believe that whatever is the basis of our strategy that makes us successful with Platina, Pulsar, three-wheeler, KTM and exports will hold good with the Discover as well.
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