Bajaj has been a leader in the three-wheeler passenger vehicles for years. Bajaj's cherished brand, RE, which stands for Rear Engine, has three-wheelers in different fuel options, namely diesel, alternative fuel and hybrid power.
However, after the turn of the decade, Bajaj has witnessed some ups and downs in the auto-segment. For example, three-wheeler sales peaked at more than 4,80,000 units including exports in FY2013, but fell to 4,47, 674 units in FY2014. The same year, although Bajaj had 39 percent market share in the domestic market, sales numbers revealed a decline. The major reasons were a sluggish economy and lower issue of permits by transport authorities.
Also, other small commercial vehicle manufacturers in the segment, such as Piaggio and Mahindra, are slowing encroaching the space. Though numbers have grown in exports, the trend has been slower than the overall market. Thus, export shares witnessed a decline from 83.8 percent in FY2013 to 73.8 percent in FY2014. In FY2015, Bajaj Auto sold 5,19,117 units, according to its annual report and had 52 precent market share in the segment.
Still, these numbers stand testimony to the fact that Bajaj is still a market leader in the three-wheeler passenger vehicle segment.
About Bajaj RE:
Since 1961, Bajaj RE auto rickshaws have been serving the public on Indian roads. The vehicles not only offer employment to millions of Indians, but they also ensure last mile connectivity in rural, semi-urban and urban areas.