Bajaj Auto Ltd. India's fastest growing automobile company today celebrated the sales of more than 10 Lakh Discover motorcycles in a little more than a year. Inching closer to the current number one - Splendor, the Discover range sold a record 127,397 Discover bikes in the month of August 2010.
Within a year of its launch Discover 100's current volumes are averaging 85000 pm. The Discover 150, which was added to the portfolio only in May 2010 is already crossing 35000 mark per month. When compared to the same Apr-August period last year, the brand Discover has grown by a whopping 242% and has clearly emerged as the fastest growing two-wheeler brand in the country.
For taking its star brand to newer heights the company is now in the process of enhancing its production capacity to 2 million units annually by next month i.e. October 2010. With this expansion, the Bajaj Discover is now targeting to become the largest selling 2-wheeler brand by the end of this financial year.
Commenting on the occasion, Mr. S. Sridhar, President (Motorcycles) said: "The Bajaj Discover has taken the market by a storm, ever since its launch last year. Discover is now rapidly closing the gap between itself and the current market leader. With the capacity expansion in place we will see a further ramp-up in volumes and market share. All this is amidst aggressive launches from the competition."
Discover's success has contributed to Bajaj Auto, YoY overall share moving up from 25.6% to 33.5%. The company has logged in a growth of 68% against an industry growth of 28% for the period Apr-Aug 10.
Source: afaqs! > News > Company Briefs > Bajaj Discover sales zoom- over 10 lakh bikes sold