Exports for Bajaj Auto gathered pace in the second half of FY24. The Pulsar not only saw strong growth in the domestic market but is also amongst the top sellers globally. Mexico, Colombia and Argentina are among the best performing markets globally cushioning the impact of slowdown in African markets.
Dinesh Thapar, CFO, Bajaj Auto said that, “we continue to see challenges across Africa, in particular. Our Latin American business is going strong. The three big clusters have continued to do well, which is Colombia, Mexico and clearly, notwithstanding the currency challenges, we’ve been able to build back some volume in Argentina as well.”
Pulsar in ‘sweet spot’
In terms of the product mix and the revenue contribution, Thapar said that export revenues grew double digit YoY though volume was flat compared to last quarter. On a year-on-year comparison Q4 volumes did see a 20% jump led by the “Pulsar and the Dominar” comprising a bulk of the 3,69,936 two-wheelers exported in Q4.
Tracking the Pulsar’s popularity, Thapar added that the “125-200 CC is now actually the sweet spot in this market and amongst the fastest going segment. The 125cc is the biggest volume driver along with the 150cc and 160cc. Really well positioned with Pulsar in the segment.” It was the biggest year for the Pulsar with the growth rate nearly at 8X of the rest of the industry, underlining the trend that’s driving premiumization.
New offerings in FY25
Outlining the company’s plan in terms of new product offerings, Thapar indicated that the launch plan for the world’s first CNG bike is on the cards and a new variant of Pulsar would be launched in May. It also plans to scale up the electric commercial vehicle offerings in both the passenger and cargo segments.
That part, Thapar said that a “new Chetak is on its way. We’ve got a new Husqvarna Svartpilen to market and work is happening on KTM, Triumph as well.” He also added that the two-wheeler major will also offer upgrades in Pulsar variants
