The Hindu : Bajaj unveils Caliber 115 bike

Online edition of India's National Newspaper
Thursday, Mar 06, 2003

Business

Business

Bajaj unveils Caliber 115 bike

By Ramnath Subbu

PUNE MARCH 6. Bajaj Auto today launched its Caliber 115 in the executive motorcycle segment. The new 100 km/hour, 9.5 bhp and 90 km/litre motorcycle comes in six colours and is priced at Rs. 40,348 (ex-showroom Pune). The launch is aimed at strengthening its position in the executive motorcycle market after having dominated in the premium bike segment with Pulsar and Bajaj Boxer in the economy end.

Developed under the Kawasaki platform, the Caliber 115 will be launched across the country next week. Rajiv Bajaj, President, BAL, while launching the product here today, said, "Bajaj Auto has achieved undisputed leadership in the entry level segment with a market share of 44 per cent by the Boxer series complemented with the new 100 km/litre BYK and also in the premium segment with a market share of 40 per cent by the Bajaj Pulsar. Now, with the introduction of Caliber 115, we are all set to make a clear dent in the executive bike segment. This is our first major initiative towards the leadership in executive bike segment and we are confident to achieve the leadership in the overall motorcycle market in the near future.

R. L. Ravichandran, Vice President (business development and marketing), said BAL sold 72,132 motorcycles a month and had a 23 per cent share of the motorcycle segment in the current year. "The executive segment of the motorcycle market constitutes 54 per cent of motorcycle sales — around 1.60 lakh units per month and here Bajaj has only a 7 per cent market share.

Our objective is to garner a much higher share of the market in this segment and the Caliber 115 will help us do that.'' He said BAL was confident of selling 25,000-30,000 Calibers in March; pushing up the market share to around 20 per cent.

The Caliber is priced lower than competitors in its segment — Splendor (Rs. 40,987), Passion (Rs. 41,903) and Victor (Rs. 41,860). Mr. Ravichandran said the Caliber 115 would eat into the market share of existing, outdated products.

In the current fiscal, the company is targeting sales of 1.5 million two and three-wheelers with motorcycles alone accounting for nine lakh units.

Mr. Bajaj said for 2003-04, the company was targeting sales of one lakh bikes a month and taking its market share to 27-28 per cent.

The Bajaj Eliminator, a cruiser, sells around 150 units per month now. The product is priced at around Rs. 90,000.

Regarding new products, Mr. Bajaj said the company would launch the Kawasaki 125 in April and a sub-250 cc motorcycle with new engine technology in June.

Bajaj hopes export sales will touch 97,000 units in 2002-03 against 43,000 units in the previous year. Motorcycles and three-wheelers would constitute 85,000-90,000 units. The export turnover for the current year would be Rs. 300-325 crores against Rs. 160 crores in the previous year.

"We hope to touch 1.25-1.50 lakh units of exports in 2003-04. Some initiatives have been taken in new markets which have still to be consolidated,'' said Mr. Bajaj.

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