Bajaj Auto intends to sell all new e-scooter Chetak from 75 sites in FY 22-23
In October 2019, the Pune-based company reintroduced its iconic Chetak scooter in an electric form.
FollowFollowing the high demand for its electric scooter Chetak, Bajaj Auto plans to expand its model's sales infrastructure to 75 locations across the country during the current fiscal year.
In October 2019, the Pune-based company reintroduced its iconic Chetak scooter in an electric form.
"The company has raised the number of touchpoints to 20 in FY 2022 because of the higher demand for this famous model. This is expected to increase to 75 in the fiscal year 2023," the company stated in its annual report 2021-22.
Chetak was initially sold in only two locations, Pune and Bengaluru. The company stated that when the model was first introduced in early 2020, bookings had to be halted due to COVID.
It added that they had to stop online bookings after 48 hours and restarted it on April 13, 2021, due to overwhelming demand. The e-scooter, 8,187 units were sold during the previous fiscal year, as per the company.
"We are dedicated to advancing electric vehicles (EVs). The first example is Chetak. Chetak Technology Ltd.'s establishment as a wholly-owned subsidiary of Bajaj Auto will support EV research, development, production, and sales," the company announced.
Bajaj Auto told shareholders that we aim to be a significant player in this market because these are the future cars.
Bajaj Auto Chairman Niraj Bajaj explained the chip shortage issue and said it is anticipated to affect the company's production volume.
"I have no doubt, and neither should you, that Bajaj Auto has a full line of profitable two and three-wheelers that can dramatically grow domestic and global market share and generate increased sales, revenues, and profits," said Bajaj.
Adding, "however, I have never witnessed the company face such a global supply limitation in terms of semiconductor shortage in all my years serving as its fiduciary."
A modern automobile would not be possible without a slew of semiconductor chips. According to Bajaj, motorcycles and high-end EVs like the Chetak are no exception.
Following Bajaj, when this supply constraint will end is difficult to predict. "However, until then, this will limit your business's production levels, just as it will for all other automakers," explained Bajaj.
According to the business, the chip scarcity has impacted all high-tech components like the ABS, FI systems, innovative displays like Thin Film Transistors (TFT), telematics, and vital sensors.
It noted that R&D is putting a lot of effort into developing alternative combinations and quickly homologating them.
A decrease in domestic motorcycle sales followed two years of significant growth in FY18 and FY19, according to information provided to shareholders by Bajaj Auto.
Domestic motorcycle sales for the industry have decreased by about 34 per cent in volume between FY 2019 and FY 2022.
In this scenario, Bajaj Auto was able to stop its sales fall and increase its market share from 18 per cent in FY 2021 to 18.2 per cent in FY 2022, the company reported.
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