bajaj auto ltd.’s brand centric strategy

Refer to the case study “Bajaj Auto Ltd.’s Brand Centric Strategy”. Do you feel justified

with Rajiv’s decision to focus on twin – brand strategy? Provide your argument supported

by necessary external and internal analysis.

Bajaj Auto Ltd: Two brand strategic analysis

I. INTRODUCTION OF THE COMPANY

A. The Indian Two-Wheeler Industry

The history of the Indian two-wheeler industry, comprising scooters, motorcycles, and mopeds,

had its beginnings in the late 1940s, when Bajaj Auto started selling imported scooters (1948)

and Automobile Products of India (API) along with Royal Enfield started manufacturing scooters

(1955) and motor cycles respectively in India. In the evolution stage, the Indian two-wheeler

industry was highly regulated by the Government of India (GOI) and was largely structured by

Indian industrial policies. The License Raj system imposed a strict control on the industry by

regulating the entry of new players, imports, and foreign investments.

B. History of Bajaj Auto

Founded in 1956, at the height of India’s movement for independence from the British, the

group has an illustrious history. Theintegrity, dedication, resourcefulness and determination to

succeedwhich are characteristics o the group today are often tracked back to its birth during

those days of relentless devotion to a common cause. Jamnalal Bajaj, founder of the group, was

close confidant and disciple of Mahatma Gandhi. In fact Gandhiji had adopted him as his son.

The close relationship and his deep involvement in the independence movement did not leave

Jamnalal Bajaj with much time to spend onhis newly launched business venture.

His son, Kamalnayan Bajaj, then 27, took over the reins of business in 1942. He too was close to

Ghandhiji and it was only after independence in 1947, that he was able to give his full attention

to the business. Kamalnayan Bajaj not only consolidated the group, built also diversified into

various manufacturing activities. The present chairman of the group, Rahul Bajaj, took charge of

the business in 1965. Under his leadership, the turnover of the Bajaj Auto the flagship company

has gone up from Rs. 72 million to Rs. 46.16 billion, its product portfolio has expanded from one

to and the brand has found a global market. He is one of the India’s most distinguish business

leaders and internationally respected for his business acumen and entrepreneurial spirit.

This case is about the brand centric strategy that the fourth largest two – and three wheeler

manufacturer in the world, Bajaj Auto Ltd., adopted in 2009. The scooters produced under the


Chetak brand name dominated the Indian two wheelers market from early 1970s to the early

1990s and helped Bajaj Auto became a leader in the industry. As the Indian Two wheeler

Industry was deregulated and faced the competition in the 1990s, Bajaj Auto began to face a

threat from foreign players. In addition, in late 1990s, due to the shift in consumer preferences

and demand from scooters to motorcycles, Bajaj Auto’s sales and market shares started declining

and posed a challenge of sustenance for the company.

As a result, by the early 2000s, motorcycle sales surpassed that of scooters and Bajaj Auto lost

its market share to Hero Honda. In an attempt to recapture market share, Bajaj Auto restructured

its business and launched new motorcycle models. However, Bajaj Auto lost its dominance in the

scooter market. Realizing the changing dynamics of the Indian two-wheeler industry and the

deficiencies at Bajaj Auto, Rajiv Bajaj began to develop a new strategy for the company. He

shifted the focus from scooters to motorcycles and emphasized enhancing the quality of

products. With the twin- brand strategy, he focused in only two brands Discover and pulsar

pulling back the Bajaj name, as it is associated with various other products. And with the change

in strategy he was able to double his lost market share as well as sales.

Bajaj Auto, which began in 1945 as a trading company, importing and selling two-and three-

wheelers in India, started vehicle manufacturing in 1959 by obtaining the rights from Italy-based

Piaggio. Once the agreement with Piaggio2 expired, the company made and sold vehicles under

the Bajaj name. Since the mid-1960s, under the reins of Rahul Bajaj, the thirdgeneration head of

the company, Bajaj Auto began to grow and create the image of a reliable scooter brand in India.

C. Managerial Style at Bajaj Auto

Off late Bajaj Auto Ltd has emphasized a lot on organizational restructuring for the auto

business. With this restructuring the exiting business roles and responsibilities at the company

has strengthened and enhanced to ensure greater operational empowerment and effective

management. The five pillars of this new structure (strategic units) are R&D, Engineering, Two

Wheeler Business Unit, Commercial Vehicles Business Unit and International Business Unit.

These pillars are being supported by functions of finance, MIS, HR, Business development and

Commercial.


D. Brand Centric strategy

From the case we can observe that there is a shift in Bajaj Auto product life cycle that enjoyed

tremendous growth in certain stage but due to lack of product differentiation, innovation and

only focusing in cost leadership strategy the Bajaj’s faced an intense competition in the industry

and nearly lost the business. So, to gain the lost position, growth and revival of their position in

the two-wheeler market they needed some strategic move to capture that lost position or to set a

new position in the mind set of the customer. And among the different alternative growth

strategies, Rajiv chose product development strategy that was focused on the twin brand by

developing a new product for the existing market with new features that is highly valued by the

customers and proved to be the smartest move that doubled their market share in the existing two

wheeler market segments. And to identify the growth strategies and the focus of Rajiv’s twin

brand decision we should carefully analyze the external and internal environment.

II. EXTERNAL ANALYSIS

To analyze the performance of Bajaj Auto, there is the need to analyze every factor related to the

industry and market. And one of the important factors is the external factor that directly affects

any strategic decision of the company. The external analysis deliberately commences with the

customer and competitor that help define the relevant industry.

A. Customer Analysis

Customer Segment

Segment 2003/04 Share* 2003/05 Share* 2008/09**Motorcycle 77.40% 79.70% 80.60%Scooter 16.70% 15.00% 13.90%Mopeds 5.90% 5.30% 5.20%Electric Two-wheeler 0.30%

* Case Reference** Ibef.org, April 2010, Market Overview – Automotives


Segment Description Share % 2001/02 Share % 2006/08 CAGRA1 Scooter <75cc 5 0 -33.9A2 75-125cc 58 10 32.9A3 125-250cc 12 1 -27.7B2 Motorcycle 75-125cc 62 66 14.9B3 125-250cc 5 17 44.8B4 >250cc 1 1 5.7C1 Moped 10 5 -2.7

B. Customer Motivation

Growth is due to rural market demand.

Segment Motivation Reason

Motorcycle Variations in models, enhanced technology, fuel efficiency

Demographic changes (growth younger population), economy growth, higher disposal income.

Scooter Low Price andInexpensive, Lowmaintenance cost, long lasting, reliable.

Increase in the number of working women who prefers scooter as the mode of transportation

Mopeds Less fuel consumption, manual paddling, gearless

Electric Two-wheeler Eco-awareness Shortage of conventional fossil fuels


A1 Scooter <75cc Lower Price, light weight, low-fuel consumption, low maintenance cost

A2 75-125cc Lower Price, low-weight, low-fuel consumption, low maintenance cost, higher mileage

A3 125-250cc Powerful engine, self start, gearless,

B2 Motorcycle 75-125cc

Variations in model, enhanced technology, fuel efficiency, light weight

B3 125-250cc Variations in models, enhanced technology,quality, looks, sporty designs and appearance, speed, better performance

B4 >250cc Model variations, enhanced technology, sporty and adventurous design and appearance, high speed,

C1 Moped Less fuel consumption, manual paddling, gearless

C. Unmet needs

1. Availability of back gear

2. Flexible height in same model

3. Theft protection technology

4. Safety of the biker rider

5. More powerful head-lights and stronger engines

6. Tubeless Tyres


D. Competitors

Competitors Identification

Company Production Capacity (millions units)Hero Honda 5.4Bajaj Auto 3.9TVS 2.4HMSI 1.6Suzuki 0.3Yamaha 0.6Royal Enfield 0.7

Strategic Group

Strategic Group Major Competitors Market Share (%)Large Player Hero Honda 45Medium Scale Player TVS, HMSI 26Small Scale Player Suzuki, Yamaha 4Niche player Royal Enfield -

Source: Bikeadvice.com, 6 months data. Details are given below in Annex 1


E. Strategic Group Analysis


F. Major Competitors


G. Competitor Strength Grid

Two Wheelers Competitors in Indian Market

Description Hero Honda Bajaj Honda Yamaha SuzukiBrand Recognition Price Distribution Channel Availability of service centers Sporty Look Warranty Re-sale Value India market Sales International Sales

STRONG ABOVE AVERAGE AVERAGE

LESS THAN AVERAGE WEAK

H. MarketAnalysis

Market Size

Year Scooters Motorcycles2001 -2002 906,978 2,183,7852002 -2003 935,094 2,576,8662003-2004 964,082 3,040,7022004 -2005 993,969 3,588,0292005 -2006 1,024,782 4,233,8742006-2007 1,056,550 4,995,9712007 -2008 1,089,303 5,895,2462008 -2009 1,123,072 6,956,3902009-2010 1,157,887 8,208,5402010 -2011 1,193,781 9,686,0782011 -2012 1,230,788 11,429,572

Source: SumanTiwari , PESTLE Analysis of automobile sector of India, Lovely Institute of Management

Sub Market

1. Sales Show Rooms


2. Service Centers

3. Spare parts production units

4. Spare Parts sales outlets

5. Protection gear outlets

6. Second hand and reconditioned bikes outlets

7. Fuel filling centers

I. Environment Analysis

Source Description Importance

Technological - Global collaboration High

Regularity - Liberation, open economy, globalization

High

Economic - Growth

- High disposable Income

High

Cultural - High

Demographic - Proportion of increasing youth population

High

Threat - New entrants High

Opportunity - Double-digit growth, growing market of higher CC (>180) bike.

High

J. Porter’s 5 forces model


Porter’s Five Forces Analysis:

Supplier Bargaining Power:

Suppliers of auto components are fragmented and are extremely critical for this industry since

most of the component work is outsourced. Proper supply chain management is a costly yet a

critical need.

Buyer's Bargaining Power:

Buyers in automobile market have more choice to choose from and the increasing competition is

driving the bargaining power of customers’higher. With more models to choose from in almost

all categories, the market forces have empowered the buyers to a large extent. All these have

been helped by the fact that the customers are well informed about the products as well through

the help of Internet, i.e. customers have product information.

Industry Rivalry:

The industry rivalry is extremely high with any product being matched in a few months by

competitors. This instinct of the industry is primarily driven by the technical capabilities

acquired over years of development under the technical collaboration with international players.

Substitutes:

There is no perfect substitute to this industry. Also, if there is any substitute to a two-wheeler,

Bajaj has presence in it. Cars, which again are a mode of transport, do never directly compete or

come in consideration while selecting a two-wheeler. However, with the recent introduction of

Tata Nano cars that come at a very cheap rate, they are slowly trying to be a substitute and a

threat to the two-wheeler industry. Cycles do never even compete with the low entry-level

moped for even this choice comes at a comparatively higher economic potential.

Summarizing the industry analysis, it can be said that the two-wheeler market is attractive as it

scores well on three out of five categories.

Entry Barriers:

There are high barriers to entry.

The market runs on high economies of scale and on high economies of scope as well.


Need for technical expertise is high and thus a new entrant will have a huge uphill task.

Owning a strong distribution network is very important and is very costly which certainly takes a lot of time and energy. There is also involvement of huge cost.

All these make the barrier high enough to be restraining for any new entrants in the market.

K. Distribution

Showrooms

o Company owned show rooms

o Franchised show rooms

Dealers/Agents

Service Centers

Note: Bajaj Auto has a network of 422 dealers and over 1,300 authorized service centers. The company plans to increase the number of dealers to 500 by this financial year. A large number of these new dealerships are planned in semi-urban & rural areas.

L. Market Trends and Development

The Indian two-wheeler industry has come a long way since its humble beginning in 1948 when

Bajaj Auto started importing and selling Vespa Scooters in India. Since then, the customer

preferences have changed in favor of motorcycles and gearless scooterettes that score higher on

technology, fuel economy and visual appeal, at the expense of metal-bodied geared scooters and

mopeds. These changes in customer preferences have had an impact on fortunes of the players.

The erstwhile leaders have either perished or have significantly lost market share, whereas new

leaders have emerged.

Rising income levels, reducing excise duties, higher loan tenure and loan-to-value offered by the

financing companies have all fuelled the growth of two-wheeler sales in the country. Besides,

mounting traffic chaos and limited parking space has also increased the demand for two-

wheelers from households that can afford or actually do own a car. Furthermore, with increasing

women working population, changing social philosophy and broad-mindedness, the penetration


of two-wheelers that is currently at awfully low level is expected to increase significantly going

forward.

Abundant and low cost lab our coupled with local availability of raw materials like steel,

aluminum and natural rubber has placed India amongst the low cost producing centers of two-

wheelers. Consequently, it anticipates buoyant growth in two-wheeler exports as well.

M. Key Success Factor

1. Style

2. Technology

3. Pricing strategy

III. INTERNAL ANALYSIS

A. Performance Analysis

Portfolio Analysis

BCG Matrix Analysis


GROWTH

RATE

High

MARKET SHAREStars

Pulsar 150 and 180ccDiscover

Problematic Child

XCD 125 Pulsar 200 and 220cc

Blade

Low

Cash Cows

PlatinaCT 100

Dogs

AvengerKristal

High Low

B. Strength of Weakness

SWOT

Let's analyze the position of Bajaj in the current market set-up, evaluating its strengths,

weaknesses, threats and opportunities available.

Strengths:

Has a highly experienced management that has a good history and reputation.

Extensively focused on R & D.

Capable of better product design and developments

Widespread distribution network.

Products across all categories have a performance that is high and noteworthy.

The export to domestic sales ratio is high.

Great financial support network (For financing the automobile)

High economies of scale.

High economies of scope.

Weaknesses:

Hasn't employed the excess cash for long.

Still has no established brand to match Hero Honda's Splendor in commuter segment in spite of introducing several bikes for that segment.

Not a global player in spite of being the highest exporter from India.

Not a globally recognizable brand (unlike the JV partner Kawasaki or other brands like Honda).

Threats:

The competition catches-up on any new innovation in no time.

In spite of low quality motorcycles, a sense of threat always exists from those imported motorcycles.


Margins getting squeezed from both the directions (Price as well as Cost)

TATA Nano and other mini-compact cars have started to become a serious threat to the two-wheeler industry in whole. They seem to have come into existence to replace the two-wheelers.

Opportunities:

Double-digit growth in two-wheeler market.

Untapped market above 180 cc in motorcycles.

More maturity and movement towards higher-end motorcycles.

The growing gearless trendy scooters and scooterette market.

Growing world demand for entry-level motorcycles especially in emerging markets.

C. Marketing Strategies - Twos Matrix for BAL

Exte

rnal Fa

ctors

External factors

Opp

ortu

nitie

s

Strength weakness

Can use the existing R & D capabilities for new models.

Can use Kawasaki's distribution networks internationally.

Must employ the cash in production and product capabilities to match competitors and for continuous export growth.

Thre

at

Increase the customer centric initiative and command more customer loyalty.

Improve the efficiency of the financing and the insurance arm.

Invest in new product platforms.

Actively market electric range internationally.

Invest in building world class bikes to sustain the international markets independently in the coming years like WIND 125


D. The Marketing Mix

The four P's

PRODUCT PLACEProduct Variety, Quality, Design, Features, Brand

Name, Packaging, Sizes, Services,

Warranties, Returns

Channels Coverage, Locations, Inventory, Transport

PRICE PromotionLeast Price, Discounts,

Allowances, Payment Period,

Credit Terms

Sales Promotion, Advertising, Sales Force,

Public Relations, Direct Marketing

E. Characteristics of Internal Organization

MISSION

Focus on value based manufacturing

Fostering team work & enhancing the capability of the team Continual

Improvement

Total elimination of wastes

Pollution free & safe environment


VISION

To attain World Class Excellency by demonstrating Value added products to customers

Source: Bajaj Auto Ltd. Website

CULTURES AND VALUES

BRAND IDENTITY

Brand is the visual expression of our thoughts and actions. It conveys to everyone our

intention to constantly inspire confidence. Customers are the primary audience for their

brand. Indeed, their Brand Identity is shaped as much by their belief in Bajaj as it is by

their own vision.

Everything they do must always reinforce the distinctiveness and the power of their

brand.

They can do this by living their brand essence and by continuously seeking to enhance

their customers' experience.

In doing so, they ensure a special place for themselves in the hearts and the minds of

customers.

BRAND ESSENCE

Brand Essence is the soul of their brand.

Their brand essence encapsulates their mission at Bajaj.

It is the singular representation of terms of endearment with their customers.

It provides the basis on which they grow profitably in the market. Their Brand Essence is

Excitement.

Bajaj strives to inspire confidence through excitement engineering. Blending together

youthful creativity and competitive technology to exceed the spoken and the implicit

expectations of customers. By exploring the unknown and thereby stretching themselves

towards today and tomorrow.


BRAND VALUES

They live their brand by values of Learning, Innovation, Perfection, Speed, and

Transparency.

Bajaj will constantly inspire confidence through excitement engineering.

Learning is how they ensure proactivity. It is a value that embraces knowledge as the

platform for building well informed, reasoned, and decisive actions.

Innovation: Innovation is how they create the future. It is a value that provokes them to

reach beyond the obvious in pursuit of that which exceeds the ordinary.

COMAPANY STRUCUTRE

R&D

Engineering

Two-wheeler business unit

Commercial vehicles business unit and

International business unit

CUSTOMER

Focus value

1. Innovation

2. Speed

3. Perfection

Source: http://www.slideshare.net/jsunil07/project-on-bajaj-auto-ltd-5530179

THE INVETIBALE CHANGE

Bajaj on internal analysis found that it lacked -

1. The technical expertise to deliver competitive goods.

2. The design know-how.


http://www.slideshare.net/jsunil07/project-on-bajaj-auto-ltd-5530179

3. And the immediate inability to support the onslaught of competitors.

All these forced Bajaj to look for an international partner who could bring in technology and also

offer some basic platforms to be manufactured and marketed in India. Kawasaki of Japan is a

world-renowned manufacturer of high performance bikes. Bajaj entered into a strategic tie-up

with Kawasaki in late 1990s to enhance its product line and knowledge up-gradation to support

long-term strategies.

This served the purpose of sustaining the market competition for a while. From 1996 to 2000,

Bajaj invested hugely in infrastructure while simultaneously developing product design and

innovation capabilities, which is the prime reason behind the energetic Bajaj of 21st century.

Bajaj introduced a slew of products right from entry-level motorcycle to the high premium

segment right from 2001 onwards, and since then its raining success all the way for Bajaj.

Last quarter, Bajaj had impressive performance growing at a rate of 20% when the largest

manufacturer grew at just 6%. This stands a testimony to the various important strategic

decisions over the past decade.


F. Current Situation & Current Performance

BAL was currently outperforming the industry growth rate in two-wheeler segment with 32%

growth in year 2004-05 v/s industry growth of 19%. Market share in Motorcycles has been

improving with every passing year. It had also increased from 28% in 2004-05 to 31% in 2005-

06.

Annual turnover for the year 2005-06 is Rs. 81.06 billion v/s Rs. 63.23 billion a year before - an

increase of 28%, which is very healthy.

BAL has significant presence in all the three basic segments - Price Segment, Value Segment

and Performance Segment - and has been showing increased sales in all the segments over years.

Besides this, BAL is a market leader in two-wheeler exports and it consists a great chunk of there

overall revenues. Currently, BAL is selling over 1 lac motorcycles annually in Sri Lanka, further,

they are commanding 50% market share in Central America.

G. Profile Change in Indian Two-Wheeler Industry

The demand shift from scooters to motorcycles in the 1990s was without parallel in any

comparable product category in India. This was mainly attributed to the change in customers'

preference towards fuel-efficient and aesthetically appealing models, which scooter

manufacturers failed to provide. The delayed launch of new, advanced scooter models, fear of

four-stroke scooters being prone to increased skidding risks and vibrations, and the difficulty of

maintenance also contributed to this shift.


Interestingly, the growth in the motorcycle segment was mainly driven by the demand from rural

and semi-urban consumers. An estimated 60% of the demand for motorcycles came from rural

and semi-urban customers.

The rise in their disposable incomes on account of good monsoons in the 1990s provided the

normally conservative rural and semi-urban customers with extra money that induced them to

experiment with new, innovative products.

Shift from Scooter to Motorcycle

Year Total in '00

Overall Growth

Scooter Motor cycle MopedUnits % Units % Units %

1993 1503.36 -6.4 709.73 47.2 379.06 25.2 414.57 21994 1770.22 17.75 840.17 47.5 472.58 26.7 457.47 21995 2209.23 24.8 1033.52 46.8 652.01 29.5 523.7 21996 2660.04 20.41 1223.43 46 809.53 30.4 627.08 21997 2963.49 11.41 1301.05 43.9 978.68 33 683.76 21998 3042.85 2.68 1262.7 41.5 1131.31 37.2 648.84 21999 3403.43 11.85 1325.87 39 1395.66 41 681.9 22000 3745.55 -0.8 901.88 24 2156.03 58 687.64 1

Advanced technology, larger wheelbase, higher ground clearance and the ability to ride on bad

roads with less effort and less danger of skidding and decreased maintenance cost were the other

factors that encouraged customers to choose motorbikes over other two-wheelers.

IV. BAL STRATEGY ANALYSIS AND CONCLUSION


A. Analyzing Two Brand Strategy of Bajaj Auto Ltd

Rajiv Bajaj after taking over the management of Bajaj Auto Ltd. adopted the new branding

strategy and with this strategy Bajaj Auto has been doing quite well compared to how they were

performing in the market. While analyzing the two-brand strategy it is found that the major focus

of this strategy is to redefine the positioning of the Bajaj Auto Products. Theoretically

describing positioning refers to how the brand is perceived in the mind of the customer. In other

words, what does the customer think of the brand. Positioning is all about creating a perception

of the brand in the mind of the customer or providing an experience to the customer that

develops the brand image in customer mind. In other word we can say positioning is what we do

to the mind of the customer and not what we do to the product in the factory.

The positioning helps to create unique image of the particular brand. Bajaj was making a lot of

different items starting from bikes to lights to fans to insurance to finance, auto rickshaw. This

was creating confusion in the mind of customers. To change this situation Rajiv Bajaj wanted to

change the positioning of Bajaj Bikes. The Bajaj umbrella was only providing financial

advantage but it was not allowing forming a distinct image of its product in mind of customer

and it is in the mind of the customers where all the marketing battles are lost and won and not in

the retail stores. The essence of branding and positioning is to distinguish the product from other

products. In case of Bajaj, its own wide range of products was creating confusion in the

customer’s mind. Moreover, Bajaj was synonymous to Chetak Scooter and the auto rickshaws

and from the various data also we have seen that due to shift in the customer preference, the sale

of scooter was declining and the sale of motor bike was increasing. The Bajaj Umbrella was

giving too many meaning and because of this the customer’s point of view was confusing. This

was not helping the cause of Bajaj Auto. The competition was increasing and the sales of Bajaj

were declining.

Rahul Bajaj with the aim of improving the situation adopted two brand strategies. Under this

strategy Pulsar and Discover was put onto major focus of the positioning venture. Rahul decided

to drop the word Bajaj from these bikes to reposition these brands.


The company started advertising only Pulsar and Discover and did not use the phrase 'Bajaj

Auto' to market either. This effort was started being noticed and recognizedslowly. Highly

differentiated target groups (TG) for Pulsar and Discover is the prime reason behind the effort to

divorce these sub-brands from the parent brand, Bajaj Auto. Efforts were aimed at making these

two individual brands stronger than the parent brand and to position them as brands in their own

right.

Bajaj had designed Pulsar and Discover for two extreme ends of the consumer spectrum. The

target group for Discover was 'the commuter' as it stands for balance, responsibility and all

things homely. Conversely, Pulsar, 'the performer', symbolized arrogance, irreverence and

attitude and hence categorized in the sports category. The styling, imagery and tonality of the

brand were stressed on in the case of Pulsar.

Pulsar29%

Discover48%

3w16%

Others8%

Oct sales Data For Domestic Market

Rebranding of Hamara Bajaj


Bajaj Company made sure that the mind space and level of engagement are very conventional for

Discover as opposed to those of Pulsar. Even the media that they choose differ markedly for the

two - Discover uses conventional advertising and Pulsar uses newer techniques such as

Advertiser Funded Programming (AFP) and digital advertising. With this approach the company

was successful to categorize and position the two vehicles as separate brands. This helped Bajaj

Auto in its growth of sales. They have been doing extremely well compared to its competitor in

international market. In domestic market also they have been able to close the gap with the

market leader Hero Honda.

B. Conclusion:

From the analysis we can say that Rahul Bajaj was correct in adopting the two brand strategy.

This has increase market share of Bajaj Auto Ltd. With this approach Rahul has successfully

created a separateposition for its motorbikes. Today the reason why consumers buy a Pulsar is

because it is a Pulsar, not because it belongs to Bajaj.


V. Annex

Annex 1: Monthly Bike sales volum

Manufacturer

June July AugustSeptembe

rOctobe

rNovembe

rDecembe

rTotal sales

% Share

Hero Honda365,73

4366,80

8415,13

7 401,290 354,156 381,378 375,8382,660,34

1 45

Bajaj165,69

7192,83

5182,44

1 249,795 249,681 242,390 219,9201,502,75

9 25

TVS115,44

8120,99

4126,84

2 142,553 131,000 120,844 119,701 877,382 15

HMSI103,00

0112,85

5 96,149 624,008 11Yamaha 17,878 17,316 19,508 26,394 26,879 17,055 13,612 138,642 2Suzuki 12,734 12,585 13,030 15,719 16,000 14,745 14,806 99,619 2

Total Sales of bike for seven months of 20095,902,751
