Bajaj Auto targets 17% growth for three-wheelers this fiscal

Bajaj Auto on Tuesday said it aims to sell three lakh three-wheelers in the current fiscal, a growth of over 17% over the last fiscal.

The Pune-based firm sold 2,54,967 three-wheelers during the 2015-16 fiscal.

"Backed by overwhelming customer response to our new range of diesel passenger vehicles and our strategic re-entry into the three-wheeler cargo industry, we are now targeting leadership in the diesel passenger segment and a double-digit growth in 2016-17," Bajaj Auto President (Commercial Vehicle Business) R C Maheshwari said.

The company's performance over the years is a testament of the company's leadership in offering some of the world's finest three-wheeler products, he added.

"We have seen significant growth in the Petrol plus alternate fuel vehicle category, where Bajaj Auto has a share of 90% of the market," Maheshwari said.

During 2015-16, Bajaj Auto launched a new range of diesel vehicles which was well received by customers.

"This overwhelming response and demonstrating the vehicles' superiority through power challenges have helped the company gain market share in the diesel category," Maheshwari said.

The company saw its diesel passenger vehicles sales grow by 6 per cent while the industry three-wheeler diesel passenger vehicle sales fell by 2%.

The company continues to dominate the petrol and alternate fuel vehicle segments with a market share of 90%.