Bajaj February 2024 Sales Surge, Two-Wheeler and CV Segments Drive 24% YoY Growth

Bajaj Auto has registered a 24 per cent year-on-year (YoY) increase in sales in February 2024. Growth was seen across both its two wheeler and commercial vehicle segments to 3,46,662 units last month, up from 2,80,226 units sold in February 2023. It was however, a MoM decline in total sales (2W + CV) from 3,56,010 units sold in January 2024.

Bajaj: YoY Sales Performance

YoY Sales Growth: Two Wheelers

• Bajaj Auto witnessed a significant YoY growth of 42% in domestic two-wheeler sales, with units increasing from 1,20,335 in February 2023 to 1,70,527 in February 2024.
• The export segment of two-wheelers also showed growth, albeit at a lower rate, with a YoY increase of 8%, from 1,15,021 units in February 2023 to 1,24,157 units in February 2024.
• Overall, total two-wheeler sales experienced a robust YoY growth of 25%, with units rising from 2,35,356 in February 2023 to 2,94,684 in February 2024.

YoY Sales Growth: Commercial Vehicles

• Bajaj Auto's domestic commercial vehicle sales grew by 10% YoY, with units increasing from 32,956 in February 2023 to 36,367 in February 2024.
• The export segment of commercial vehicles exhibited substantial YoY growth of 31%, from 11,914 units in February 2023 to 15,611 units in February 2024.
• Total commercial vehicle sales witnessed a notable YoY growth of 16%, with units rising from 44,870 in February 2023 to 51,978 in February 2024.

Overall YoY Sales Performance:

• Bajaj Auto's overall YoY sales performance was impressive, with total units increasing by 24% from 2,80,226 in February 2023 to 3,46,662 in February 2024.
• Domestic sales contributed significantly to this growth, with a YoY increase of 35%, while export sales also showed a healthy growth rate of 10%.

Also Read: Honda 2W February 2024 Sales Shows Remarkable 86 % YoY and 9.3% MoM Growth

Bajaj: MoM Sales Performance

MoM Sales Growth: Two Wheelers

• Domestic sales for February 2024 amounted to 170,527 units, reflecting an 11.8% decrease compared to January 2024's 193,350 units.
• Export sales for February 2024 saw an increase, totaling 124,157 units, marking an 8.05% rise from January's 114,898 units.
• The combined sales of domestic and export 2-wheelers for February 2024 summed up to 294,684 units, showcasing a 4.4% decrease from January's 308,248 units.

MoM Sales Growth: Commercial Vehicles

• Domestic commercial vehicle sales in February 2024 reached 36,367 units, experiencing a marginal decrease of 0.8% compared to January's 36,693 units.
• Export sales of commercial vehicles surged significantly in February 2024, reaching 15,611 units, marking a substantial increase of 41.03% from January's 11,069 units.
• Overall, the combined sales of domestic and export commercial vehicles for February 2024 totaled 51,978 units, indicating an 8.82% increase from January's 47,762 units.

Total Sales Performance:

• Total domestic sales for February 2024 amounted to 206,894 units, witnessing a notable decline of 10.06% from January's 230,043 units.
• Export sales, however, showed robust growth in February 2024, reaching 139,768 units, which was a significant increase of 10.95% from January's 125,967 units.
• Overall, the total sales (2-wheelers + commercial vehicles) for February 2024 amounted to 346,662 units, marking a decrease of 2.62% compared to January's 356,010 units.

CarBike360 Says

Bajaj Auto's February 2024 sales surged by an impressive 24% year-on-year (YoY), driven by strong performance in both the two-wheeler and commercial vehicle segments, demonstrating sustained market growth.

Hero MotoCorp has launched the updated 2024 Xtreme 160R 4V, priced at ₹1.38 lakh (ex-showroom). The new Xtreme 160R 4V includes significant upgrades such as dual-channel ABS, a redesigned pillion seat, new paint schemes, and enhanced safety features. The 160cc segment has always been lucrative, and the 2024 Xtreme 160R 4V aims to strike a balance between style and substance for buyers.

In June 2023, Hero MotoCorp introduced the Xtreme 160R with features like USD telescopic front forks, a 4V head, and an oil-cooling setup. Despite these improvements, enthusiasts called for dual-channel ABS, which has now been included in the 2024 Xtreme 160R 4V. The new Xtreme 160R 4V also features a refreshed design, with a new Kevlar Brown color option, in addition to the existing Neon Shooting Star and Stealth Black.

The most noticeable design update is the new black and bronze colorway with striking decals. The split seat design has been replaced with a single-piece seat for enhanced comfort. Additionally, there is a new LED tail light that looks more modern and premium. The 2024 model of the Xtreme 160R 4V also introduces a first-in-segment panic brake alert system that enhances safety by flashing the rear lights during emergency braking.

New Features of the 2024 Hero Xtreme 160R 4V:

Dual-channel ABS: Increases safety and completes the bike's feature set.
Panic Brake Alert: First-in-segment feature that flashes rear lights under emergency braking.
Drag Race Timer: New feature for recording 0-60 km/h sprints.
  
The powertrain remains the same, with a 163.2cc single-cylinder oil-cooled SOHC 4V engine delivering 16.6 bhp and 14.6 Nm of torque, paired with a 5-speed gearbox. The primary competitors for the 2024 Hero Xtreme 160R 4V include the TVS Apache RTR 160 4V and Honda Hornet 2.0.

Ather Energy has made a significant entry into the family scooter market with the launch of the Rizta in India. This new electric scooter is available with two battery pack options: 2.9 kWh and 3.7 kWh. While the deliveries of the 2.9 kWh variant have already begun, there was a delay with the 3.7 kWh version. However, Ather has announced that deliveries of the Rizta 3.7 kWh will start by the end of July.

Impressive Range and Charging

The 3.7 kWh battery pack offers a claimed range of up to 159 km. However, in real-world conditions, the range is expected to be around 125 km on a single charge. The scooter comes with Ather's Duo 700W charger, which charges the battery from 0 to 80 percent in 4 hours, and from 0 to 100 percent in 6 hours and 10 minutes. Using the Ather Grid, you can recharge 15 km of range in just 10 minutes. The battery pack is also IP67 dust and water-resistant, ensuring durability in various conditions.

Powerful Motor and Performance

The Rizta is powered by the same electric motor found in the 450X model. This motor delivers a peak power of 4.3 kW and a peak torque output of 22 Nm. It can accelerate from 0 to 40 kmph in just 4.7 seconds. The electric motor is IP66 resistant, providing additional protection against dust and water.

Advanced Features

The 3.7 kWh version of the Rizta comes with several advanced features. One of the highlights is the Magic Twist feature, which allows the rider to increase brake regeneration by twisting the throttle in the opposite direction. Additionally, the scooter includes Skid Control, which functions as a traction control system to enhance safety.

The Rizta S base model is equipped with the DeepView LCD instrument console from the 450S, which includes turn-by-turn navigation. In contrast, the Z variants feature a TFT screen with Google Maps navigation. It's worth noting that the S trim comes with a standard seat and does not include a pillion backrest, while the Z trim offers a standard pillion backrest and a premium seat.

With these features and options, Ather Energy aims to cater to a wide range of customers looking for a reliable and advanced electric scooter. Many eagerly anticipate the upcoming deliveries of the 3.7 kWh version.

Maruti Suzuki has unveiled its latest offering in the hatchback segment, the Ignis Radiance Edition, with prices starting at Rs 5.49 lakh. The Ignis Radiance edition comes as part of the company's strategy to revitalize sales in the mass market segment, which has experienced a slowdown recently.

The Ignis Radiance Edition brings cosmetic enhancements to the popular hatchback, with variations based on the trim level:

• Entry-level Sigma trim: Priced Rs 35,000 lower than the standard model, it includes wheel covers for 15-inch steel wheels, door visors, and chrome accents.
• Higher-spec Zeta and top-spec Alpha trims: Also priced Rs 35,000 lower, these variants feature new seat covers, black cushions, door cladding, and door visors.

Notably, the mid-spec Delta variant is not available in the Radiance Edition line-up.

The Ignis Radiance Edition retains the same mechanical specifications as the standard model. It is powered by an 83hp, 1.2-litre petrol engine, offering both manual and AMT gearbox options to cater to diverse driver preferences.

In the competitive hatchback market, the Ignis Radiance Edition faces off against rivals such as the Hyundai Grand i10 Nios and Citroen C3. It also competes with other Maruti Suzuki models like the Wagon R, Swift, and Baleno.

With its attractive pricing and added features, the Ignis Radiance Edition aims to appeal to budget-conscious buyers looking for a refreshed look in the small car segment. The introduction of this special edition model demonstrates Maruti Suzuki's efforts to maintain its strong position in the Indian automotive market.

Key Highlights:

• Total turnover reaches Rs. 6.14 lakh crore (USD 74.1 billion)

• 9.8% growth over the previous year

• Robust performance in both domestic and export markets

• Sales to OEMs Boosted by Increased Vehicle Production

In FY 2023-24, sales of auto components to Original Equipment Manufacturers (OEMs) in India surged by 8.9%, reaching Rs. 5.18 lakh crore (USD 62.4 billion). This growth was driven by the increased production of vehicles, higher consumption of value-added components, and a market shift towards larger and more powerful vehicles.

Export Performance

Exports of auto components grew by 5.5%, totaling Rs. 21.2 billion (USD) in 2023-24, compared to USD 20.1 billion in the previous year. Key markets included North America, which accounted for 32% of exports, showing a growth of 4.5%. Europe and Asia followed, with Europe growing by 12% and Asia remaining flat. The primary export items were drive transmission & steering, engine components, body & chassis, and suspension & braking systems.

Import Trends

Imports of auto components also saw an increase, rising by 3.0% to USD 20.9 billion from USD 20.3 billion in the previous year. Asia was the largest supplier, accounting for 66% of imports, followed by Europe and North America at 26% and 8%, respectively. Key import items included engine components, body & chassis, suspension & braking systems, and drive transmission & steering.

Aftermarket Growth

The aftermarket sector experienced a significant boost due to the increased movement of vehicles and higher demand for used vehicles. The turnover in this segment reached Rs. 93,886 crore (USD 11.3 billion) in FY 2023-24, up from Rs. 85,333 crore (USD 10.6 billion) in the previous year. This growth was attributed to enhanced e-commerce penetration and the sector's gradual evolution into a more organized structure.

Industry Outlook

Vinnie Mehta, Director General of ACMA, highlighted the positive impact of stable vehicle production and the robust aftermarket on the industry's growth. Shraddha Suri Marwah, President of ACMA and CMD of Subros, emphasized the contribution of higher value addition from component makers and the growth in auto component exports despite global challenges. The industry remains optimistic for FY 2025, expecting continued growth supported by strong macro-economic indicators, government policies, and an anticipated over 7% growth in Indian GDP.

Carbike360 Says

The Indian auto component industry has shown remarkable resilience and growth in FY 2023-24, driven by robust vehicle production, strong export performance, and a thriving aftermarket sector. The outlook for the coming year remains positive, with expectations of sustained growth and further industry consolidation.

Renault has introduced the all-new Duster in Turkey, marking its global debut. The Turkish plant serves as the primary production hub for the new Renault Duster. The new Duster showcases slight styling variations compared to its Dacia counterpart, particularly in the front fascia, featuring a unique radiator grille and bold 'RENAULT' lettering replacing the rhombus logo.

Key features of the new Renault Duster include:

• Length: 4,343 mm
• Wheelbase: 2,658 mm
• Ground clearance: 209 to 217 mm

The Duster SUV is available in two trim levels: Evolution and Techno. Standard features include:

• 17-inch wheels (18-inch optional)
• LED lights
• 10.1-inch touchscreen infotainment system
• 7-inch digital instrument cluster
• Comprehensive safety package

The new Duster offers three powertrain options:

1. 1.0 TCe LPG dual-fuel engine (100 hp)
2. Full hybrid E-Tech powertrain (145 hp)
3. Mild hybrid setup with 1.2 TCe turbo petrol engine (130 hp)

Pricing for the new Renault Duster in Turkey starts at 1,249,000 Liras (approximately Rs 32 lakh) for the base LPG variant. The E-Tech hybrid range begins at 1,530,000 Liras (around Rs 39 lakh), while the mild hybrid all-wheel drive version starts at 1,580,000 Liras (about Rs 40 lakh).

The India launch of the new-gen Duster is anticipated in 2025. However, the Indian version may differ slightly from the international model in terms of styling and powertrain options. Upon its arrival, the Renault Duster 2024 will compete in the popular compact SUV segment in India.

Kia India is enhancing its flexible mobility solutions by adding the EV6 to its popular ‘Kia Lease’ program. This follows the program's successful debut, which has already gained considerable traction within just two months.

Exclusive Lease Plan for Key Professionals

The lease plan for the Kia EV6 is available at a special rate of INR 1.29 Lakhs per month. This comprehensive package includes insurance, maintenance, pick-up and drop services, scheduled and unscheduled services, and 24/7 roadside assistance (RSA).

The EV6 lease program is exclusively offered to:

• Doctors: Registered with the Indian Medical Association (IMA) or a state medical association, and heads of registered medical institutions, hospitals, or clinics.

• Chartered Accountants: Registered with the Institute of Chartered Accountants of India (ICAI) and heads of CA firms or ICAI members.

• Self-employed Professionals: Including a select group of corporates.

Impressive Features of the EV6

The Kia EV6 stands out with its sleek and modern design, impressive performance, and range. It offers a remarkable driving range of up to 708 km and supports fast charging from 0 to 80% in just 18 minutes using a 350kW charger. The vehicle also delivers sporty performance, accelerating from 0 to 100 km/h in just 5.2 seconds.

Safety is a top priority with the EV6, which comes equipped with 8 airbags, an ADAS Level 2 suite, and other advanced safety features such as Electronic Stability Control (ESC), blind spot monitoring, rear cross-traffic alert, and a 360-degree camera system.

Kia's Commitment to Sustainable Mobility

Mr. Myung-Sik Sohn, Chief Sales Officer (CSO), Kia India, commented, “The Kia Lease program has seen significant success in Metro and Tier I cities. Adding the EV6 highlights our dedication to meeting customer demands and providing advanced technology along with sustainable mobility solutions. The positive feedback reassures us of the program's future potential and our goal to make our vehicles more accessible.”

About the Kia Lease Program

In partnership with ORIX Auto Infrastructure Services Limited, Kia India launched the Kia Lease program to offer a new ownership experience. The program is designed for those with extended mobility needs, providing lease terms from 24 to 60 months with various mileage options. Besides the EV6, the program offers lease plans for other Kia models such as the Sonet, Seltos, and Carens at INR 17,999, 23,999, and 24,999 per month, respectively.