Bajaj Chetak's growth slowed due to supply chain, production issues: Rakesh Sharma

Chetak is Bajaj Auto’s umbrella brand for electric two-wheelers. Currently, it manufactures retro-style electric scooters inspired by the classic Bajaj Chetak scooter, which was one of India's most popular scooters in the '80s and ’90s.

Sharma said that the company is looking at low-speed, mid-speed & high-speed models. The electric vehicle is testing products at various speeds and ranges.

While talking about the FAME subsidy issue, Sharma said, “Zero based subsidy scenario will have an impact on pricing for the customer and for some time there will be shock and shrinkage of the market.” However, the company has already taken a calibrated approach and has not faced issues from the government on FAME subsidy, he added.

Earlier this week, Bajaj Auto released its Q4 FY22 results and reported a marginal rise in standalone Profit After Tax at Rs 1,468.95 crore for the three months to March 2023. It posted a standalone PAT of Rs 1,432.88 crore in Q4 FY22.

The company's revenue from operations during the quarter under review increased 12 per cent to Rs 8,905 crore from Rs 7,974.84 crore in the January-March period of FY22, it added. The growth in revenue from operations was led by the sustained momentum of the domestic business that delivered strong volume-led revenue growth of more than 50 per cent year-on-year, it noted.

It said that domestic motorcycle sales during the quarter under review continued to deliver well, buoyed by the strong performance of the Pulsar portfolio and further scale-up in Platina 110 ABS volumes. Three-wheeler sales crossed the 1,00,000 units milestone for the first time since the pandemic, Bajaj Auto said.