Freedom Vs Splendor: Bajaj Autos New CNG Foray Gets Thumbs Up From Analysts

The 110-125-CC space has seen a strong demand, with their share of the industry total sales rising to 17% as of fiscal 2024 from 10% at the end of fiscal 2019. The launch of the Bajaj Pulsar 125 and TVS Motor Co.’s TVS Raider has caused demand to shift in this space.

Honda Motorcycle & Scooter India Pvt., having solved supply chain issues, has challenged both these players with Shine 125. Overall, the company saw a massive 60% growth in sales volume for June 2024.

Meanwhile, TVS Moto Co.’s TVS Raider has also been growing strongly, with sales of roughly 37,249 in May 2024, according to Autopunditz.

For Bajaj Auto, the share of 110 to 125-cc in its total sales has gone up to 27% by the end of fiscal 2024, versus 5% seen in fiscal 2019.

Nuvama sees a huge addressable market in the 125-cc space and has pegged it to be almost one-third of total motorcycle sales going forward.

The management expects an initial ramp-up of 10,000 units per month by the end of this fiscal and sees 20,000 units per month in fiscal 2026 for this model, the brokerage said.

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