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Mumbai, Jan 14 () Bajaj Auto managing director Rajiv Bajaj on Tuesday said that an "over-regulated" market has pushed up two-wheeler prices which would increase by around 30 per cent in a one-and-half-year period.
 Speaking at the launch of the electric version of the iconic Chetak scooter, Bajaj also pitched for lowering of GST rates.
 The market is "over-regulated", which has led to an increase in the two-wheeler prices, Bajaj said.
 The hike in prices would be about 30 per cent in one-and-a-half years, he said while referring to the impact of the implementation of new emission norms. Automakers have stated that BS-VI models would carry a higher price tag compared to BS-IV vehicles.
 Earlier, the Pune-based automaker announced the formal launch of its much-awaited Chetak electric scooter, at a starting price of Rs 1-lakh.
 It also announced the bookings, online and through select KTM stores, for the new vehicles from January 15 and deliveries from February-end.
 Bajaj also said that while the government has announced GST on electric vehicles at 5 per cent, the vehicles with combustion engine continue to attract 28 per cent and it to be lowered to 18 per cent. He also said he was not expecting much in the forthcoming union budget which could address the current issues industry is facing.
 The electric variant of the iconic Chetak will initially be available in Pune and Bengaluru, it said.
 "The return of the legendary Chetak now in a modern electric avatar is indeed a proud moment for all of us. From January 15 onwards Chetak will be available in two cities and this will mark the commencement of a new era in two-wheeler mobility," Rakesh Sharma, Executive Director, Bajaj Auto said.
 The automaker had unveiled Chetak last October.
 The company said the electric scooter will be available in two variants, Urbane and Premium.
 While Urbane edition with drum brakes will be priced at Rs 1-lakh, the Premium edition with disc brakes and luxury finish will be priced at Rs 1.15 lakh, it said, adding, both prices are ex-showroom and inclusive of applicable subsidies, and exclusive of insurance and road tax, the company said.
 To provide a seamless and convenient booking experience, customers can book the vehicle online on the Chetak website at an initial amount of Rs 2, 000, the company stated.
 According to Bajaj Auto, Chetak needs minimal maintenance with a service interval of 12,000 kilometres or one year (whichever is earlier) and comes with an overall warranty of 3 years or 50,000 kilometres (whichever is earlier) inclusive of the Lithium-Ion battery.
 "Our objective is to provide an attractive and viable option to commuters with different needs and expectations through the Chetak range. To achieve this, we have offered a highly advanced and elegant looking electric scooter at an affordable price," Sharma added. IAS MR
MR

Over-regulated market jacking up 2-wheeler prices, says Bajaj

<ul><li>Shares of two wheeler maker Bajaj Auto slipped 4% as investors were disappointed with the company’s falling profitability.</li><li>The company’s net profit slumped 22% year-on-year in the December quarter at ₹1,429 crore.</li><li> Further, the company reportedly sees negative industry growth in the next quarter.</li></ul>Shares of Pune-based two wheeler maker Bajaj Auto slipped 4% on Thursday as investors were disappointed with the weak financial performance in October to December quarter. The two wheeler industry is currently reeling under weak demand due lockdown situations and increased cost of vehicles in the last two years. The transition to stricter emission standards, several price hikes by automakers, rising fuel prices and dented purchasing power due to the pandemic has increased the cost of vehicles and impacted the overall demand. In the December quarter, the company’s net profit slumped 22% year-on-year to ₹1,214 crore. According to a CNBC-TV18 <a href="https://www.cnbctv18.com/market/stocks/bajaj-auto-share-price-q3-results-bajaj-auto-stock-price-december-quarter-earnings-12183902.htm">report</a>, the company is now preparing itself for negative industry growth in Q4 (Jan-Mar). Net profit per vehicle for the company is down by 20% year-on-year to ₹9,585 crore. Analysts at ICICIdirect expect the domestic two-wheeler market to revive post FY22 earnings along with domestic three-wheeler sales from a low base on easing of COVID-19 restrictions. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bajaj Auto </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net Profit </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Oct-Dec FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹9,021 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,429 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jul-Sep FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹8,762 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,039 crore </td></tr></tbody></table>On January 20, shares of Bajaj Auto slipped 4% to ₹3,309.50 as investors were disappointed with the company’s falling profitability. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Brokerage firm </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Target price </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ICICIdirect </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,444 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jefferies </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,800 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motilal Oswal </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,400 </td></tr></tbody></table> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-green-jumped-45-in-2022-so-far-to-become-more-valuable-than-lt-maruti-suzuki-axis-bank/articleshow/89013318.cms">Adani Green Energy stock has jumped 45% this year to become more valuable than L&amp;T, Maruti Suzuki, and Axis Bank</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/cred-expands-esops-pool-to-500-million-employees-can-own-12-5-of-fintech-startup/articleshow/89010053.cms">CRED says that all its employees get stock options, expands pool to $500 million</a>

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Over-regulated market jacking up 2-wheeler prices, says Bajaj

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As tepid two wheeler sales hurt Bajaj Auto’s profitability, stock slides 4%

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