Bajaj Auto Ltd saw a 68% growth in the sales of its compressed natural gas (CNG) motorcycle, the Freedom 125, during the month of October 2024 till date as compared to September, according to a Business Standard report which cited VAHAN data.
The 8,310 units registered is the highest amount of sales the Freedom (which is India’s first CNG-powered production motorcycle) has seen after its launch in July this year, according to the report.
Also Read: Mukesh Ambani says Mark Zuckerberg ‘will go down in history for doing this’: Find out what
Bajaj is also planning to ramp up wholesale dispatches to 30,000 units in the third quarter of this financial year and by up to 40,000 units in the fourth quarter, the report read.
This is especially true for the base model which is priced at ₹95,055 (average ex-showroom) as compared to the top-spec model which costs ₹ 1,10,055, according to Bikewale figures.
The report added that the model accounted for 1.3% of all the two-wheelers registered in Delhi in September while nationally, it has a share of 0.6%. Its top markets at the moment include Delhi, Maharashtra, Madhya Pradesh and Haryana.
Also Read: Muhurat Trading 2024: BSE and NSE announces date and time, check details
The Freedom 125’s market share would mirror that of electric two-wheelers, the report quoted Rakesh Sharma, vice-president at Bajaj Auto as saying. The Freedom however, has a prime advantage in contrast to electric vehicles. It’s small two litre petrol tank offers relief from range anxiety in case a CNG filling station isn’t available nearby.
At the moment, there are more than 4,650 CNG stations across more than 365 cities across India, the report read.
The report also cited analysts at brokerage Anand Rathi as projecting sales of the bike to hit 2,40,000 in the financial year 2024-25, making up 6% of all domestic two-wheeler sales.
Though the Freedom doesn’t have a direct competitor at the moment, TVS had announced earlier that they would enter the segment, but nothing has been seen so far.
Also Read: Air travellers cheated of ₹9 lakh through fake ‘Lounge Pass’ App. Details here