Bajaj Auto to expand 3 wheeler & Quadricycle capacity to 1 million per year as Government announces end to Permits
Over the last 12 months, there has been an up-surge in three wheeler demand in India, owing mainly to permits released in Maharashtra, Karnataka, AP and Delhi. Consequently during the period Sept’17 to Aug’18 Bajaj Auto has sold 435,000 three wheelers representing a growth of 88% and has strengthened its leadership in this segment.
At the SIAM convention yesterday, Minister for Transport Mr. Nitin Gadkari made a historic announcement moving to a “no-permit” regime for auto rickshaws powered by Alternate Fuels.
The Market Leader Bajaj with 86% market share in the alternate fuel 3 wheelers is majorly benefited with the development
This announcement is a further fillip for the Bajaj Qute, which comes with CNG / LPG fuel options, as more and more state governments approve the Qute for taxi applications.
Alongside, Bajaj’s three wheeler and Qute volumes in international markets continue to grow at a good clip of 65% YTD.
To capitalize on these positive developments, Bajaj will shortly enhance its production capacities of 3 wheelers and Quadricycles to 1 million per year!