Bajaj will introduce the Pulsar NS400 on May 3 while a new mass market Chetak has also been confirmed to launch next month
Bajaj Auto’s recent financial report for the January-March 2024 quarter showcases an 18 per cent increase in its consolidated net profit, soaring to Rs. 2,011 crore from Rs. 1,705 crore in the corresponding period last FY. Carrying the momentum, the Chakan-based manufacturer has chalked out a robust capex plan of Rs. 800 crore earmarked for FY 2024-25 – same as in last FY.
This investment is allocated towards enhancing capacities for three-wheelers and the Chetak electric scooters. Dinesh Thapar, the Chief Financial Officer of Bajaj Auto, affirmed the company’s focus on completing the capex for the three-wheeler plant and expanding the Chetak lineup, and there will be the infusion of capital into dyes and moulds.
As part of expanding its lineup, Bajaj has recently updated its popular Pulsar range. The 2024 Pulsar N250 was introduced a few weeks ago and will be followed by the “biggest Pulsar ever” as the Pulsar NS400 is slated to launch on May 3, 2024. The brand is also set to introduce a new electric scooter under the Chetak brand next month.
The positive buying sentiments in the domestic market have been a key driver of Bajaj Auto’s stellar performance in Q4 FY24. The company’s total revenue surged to Rs. 11,555 crore in the quarter ended March 2024, reflecting a substantial growth trajectory from the previous year. Bajaj’s foray into clean fuel technologies is exemplified by its upcoming launch of a CNG motorcycle targeted at mass-market buyers aiming for high mileage.
The Bajaj CNG motorcycle will be rolled out in a phased manner in cities based on the robust CNG infrastructure. The electric scooter market has witnessed the arrival of more affordable models from big players like Ola and Ather in recent weeks as the Ola S1 X costs Rs. 69,999 and the Ather Rizta family-based e-scooter has also been competitively priced.
Bajaj will also look to join the bandwagon by expanding its Chetak range to appeal to a wide range of buyers while the CNG-powered motorcycle will be the first of its kind in the Indian automotive industry.