He added that the company was satisfied with its performance in terms of exports and was now planning to shift its energy and attention towards increasing its share in the domestic market.
The announcement came as the company kicked off its new publicity campaign to redefine the Bajaj brand's identity as "The World's Favourite Indian" to mark its dramatic transition from a domestic scooter maker to a global motorcycle powerhouse.
Amid speculation about the launch of an electric scooter on Monday, the MD of India's leading automobile company said: "The launch of the electric scooter will not happen today, but it will happen soon."
However, Bajaj did not divulge any details of the scooter.
He added that after doing well overseas and in the three-wheeler segment, the main focus of the company's energy and attention in the near future was now shifting towards having the same domination in the domestic motorcycle market.
"Our share in the domestic market had grown by 6-7 per cent in the last nine months and is now around 21-22 per cent," he said, adding that the new campaign would be used to drive the domestic sales further by pushing the idea that "if the whole world is buying Bajaj, why not you?".
Bajaj Auto's executive director Rakesh Sharma added that the Qute quadricycle, first unveiled in 2012, will hit the roads as early as March.
Quadricycles are four-wheelers with less power and lower maximum speed than conventional small cars.
With a presence in over 70 countries around the world, Bajaj has grown to become India's top motorcycle exporter with 40 per cent of the company's revenue coming from international markets.
"Our international performance is validation of our strategy of focus and differentiation. Our unwavering commitment towards building the best motorcycles in the world through design, technology, quality and customer satisfaction have made us a truly global brand," Rajiv Bajaj said at the event organised to launch the company's new publicity campaign.
"Bajaj brand is not only 'The World's Favourite Indian', but also perhaps the most illustrious ambassador of the Make in India initiative of the Indian government," he added.
The company said that the new brand identity, which would mark a transition from the iconic "Hamara Bajaj", would be communicated through a powerful marketing campaign featuring TV, outdoor, print and digital media.
The retail showrooms of Bajaj Auto motorcycles and commercial vehicles will also undergo a transformation with new signage and branding in line with the message of "The World's Favourite Indian", the company said.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.