Bajaj Auto Eyes 20% Domestic Market Share In The Next Two Quarters.(Bloomberg)

Buoyed by strong performance in the first quarter of this fiscal, Bajaj Auto Ltd.is planning to increase its share to 20 percent in domestic motorcycle market in the next two quarters.

Besides, with the African markets rebounding after witnessing downturn for nearly three years, the Pune-based firm expects to continue the momentum of high double-digit growth witnessed in the first quarter, said a senior company official.

“In the domestic market our current market share is 16.3 percent. Our target is to expand it to around 20 percent in the next two quarters,” said S Ravikumar, Bajaj Auto President-Business Development and Assurance.

In the first three months of the current fiscal, Bajaj Auto’s motorcycle sales grew 39 percent to 5.94 lakh units in the domestic market. The total industry sales of motorcycles during the quarter stood at 36.51 lakh units, according to SIAM data.