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A PROJECT REPORT
ON
The Study of Consumer Preference to BajajPulsar Bike, A Brand of Bajaj Auto Ltd
SUBMITTED TOWARDS PARTIAL FULFILLMENTOF
Master of Business Administration In Management
(Submitted to M.T.U, University, Noida)Academic Session
2011-2012
Under the Guidance of:SUBMITTED TO: SUBMITTED BY:
Miss.Richa Agnihotri Mr. Vikrant Dhingra
Roll no. 1006870056
MBA- IIIrd SEM
MIET, Meerut
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STUDENT DECLARATION
I Mr. Vikrant Dhingra student of MBA here by declared that the research report entitled The
Study Of Consumer Preference To Bajaj Pulsar Bike, A Brand Of Bajaj Auto Ltd is
completed and submitted under the guidance of Miss. Richa Agnihotri, Faculty of MIET,
Meerut is my original work. The imperial finding in this report is based on the data collected by
me. I have not submitted this project report to Mahamaya Technical University,Noida or any
other University for the purpose of compliance of any requirement of any examination or degree.
DATE:
Mr.Vikrant Dhingra
PLACE: MBA III SEM
ROLL NO. 1006870056
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CERTIFICATE
This is certified that the Project, entitled A Project Report on The
Study Of Consumer Preference To Bajaj Pulsar Bike, A Brand Of Bajaj Auto
Ltdwhich is being submitted by Mr.Vikrant Dhingra Student of MBA IIIrd sem of
MIET, Meerut Affiliated to the Mahamaya Technical University,Noida (U.P.) for the
award of Master of Business Administration in Management is a bonafied research work
carried out by her.
Mr.Vikrant Dhingra has worked under my guidance and supervision
and has fulfilled the requirements for the submission of the project.
Miss.Richa Agnihotri
Lecturer, Department of Management
Meerut Institute Of Engineering & Technology, Meerut
Project Guide
Date
Place
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PREFACE
This Project Report is result of my six weeks summer training at Bajaj Auto Ltd. Summertraining is an integral part of our courses and its aim is to provide a practical experience of the
industry to the students. This helps the students to view the real business world closely. They
also come to know about the conditions under which they have to work in the near future.
Keeping all this in view, this project report The Study of Consumer Preference to Bajaj
Pulsar Bike, A Brand Of Bajaj Auto Ltdis prepared by me. Although Ive tried to keep this
report free from errors but as we all know the maxim To Err Is Human. Therefore there is a
chance of some mistake. A critical appraisal by anyone will be heartily welcomed.
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INDEX
1.ACKNOWLEDGMENT.3
2. INTRODUCTION.4
3. COMPANY PROFILE(BAJAJ AUTO LTD)..14
4. OBJECTIVE OF STUDY...18
5. IMPORTANCE OF STUDY.18
6. METHODOLOGY.19
7. MARKET SHARE AND GROWTH RATES.20
8. MARKET STRUCTURE.22
9. PRIMARY DATA ANALYSIS.23
10.SALES FORECASTING47
11.CORRELATION55
12.HERFINDAHL INDEX.56
13.PRICEANALYSIS .58
14.CONCLUSION59
15.APPENDIX.72
16.REFERENCES..73
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Acknowledgement
We are extremely grateful toMr.Vikrant Dhingra
for providing us the honor of carrying out theproject, which helped us to put our learnings into experience. Without her guidance we would
not have been able to proceed with our project in the right direction.
We would like to express our sincere regards to the staff of BAJAJ LIMITED, New Delhi,
whose help and guidance enables us to know what exactly consumers preference towards
television is all about.
We would also like to thank our family friends and relatives who have helped us and supported
us in all possible ways.
A Project report needs co-operation, guidance and experience of many more other than the
persons whose name appears on the cover, we would like to thank each and everyone who have
helped us in our endeavor.
Mr. Vikrant Dhingra
MBA- VI SEM
Roll No. 1006870056
INTRODUCTION
The Indian automotive industry consists of five segments: commercial vehicles; multi-utility
vehicles & passenger cars; two-wheelers; three-wheelers; and tractors. With 5,822,963 units sold
in the domestic market and 453,591 units exported during the first nine months of FY2005
(9MFY2005), the industry (excluding tractors) marked a growth of 17% over the corresponding
previous. The two-wheeler sales have witnessed a spectacular growth trend since the midnineties.
Two-wheelers: Market Size & Growth
In terms of volume, 4,613,436 units of two-wheelers were sold in the country in 9MFY2005 with
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256,765 units exported. The total two-wheeler sales of the Indian industry accounted for around
77.5% of the total vehicles sold in the period mentioned
Figure 1:Segmental Growth of the Indian Two Wheeler Indust
ry
(FY1995-2004)
After facing its worst recession during the early 1990s, the industry bounced back with a 25%
increase in volume sales in FY1995. However, the momentum could not be sustained and sales
growth dipped to 20% in FY1996 and further down to 12% in FY1997. The economic slowdown
in FY1998 took a heavy toll of two-wheeler sales, with the year-on-year sales (volume) growth
rate declining to 3% that year. However, sales picked up thereafter mainly on the strength of an
increase in the disposable income of middle-income salaried people (following the
implementation of the Fifth Pay Commission's recommendations), higher access to relatively
inexpensive financing, and increasing availability of fuel efficient two-wheeler models.
Nevertheless, this phenomenon proved short-lived and the two-wheeler sales declined marginally
in FY2001. This was followed by a revival in sales growth for the industry in FY2002. Although,
the overall two-wheeler sales increased in FY2002, the scooter and moped segments faced de-
growth. FY2003 also witnessed a healthy growth in overall two-wheeler sales led by higher
growth in motorcycles even as the sales of scooters and mopeds continued to decline. Healthy
growth in two-wheeler sales during FY2004 was led by growth in motorcycles even as the
scooters segment posted healthy growth while the mopeds continued to decline. Figure 1
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presents the variations across various product sub-segments of the two-wheeler industry between
FY1995 and FY2004.
Demand Drivers
The demand for two-wheelers has been influenced by a number of factors over the past five
years. The key demand drivers for the growth of the two-wheeler industry are as follows:
Inadequate public transportation system, especially in the semi-urban and rural areas;
Increased availability of cheap consumer financing in the past 3-4 years;
Increasing availability of fuel-efficient and low-maintenance models;
Increasing urbanisation, which creates a need for personal transportation;
Changes in the demographic profile;
Difference between two-wheeler and passenger car prices, which makes two-wheelers the
entrylevel vehicle;
Steady increase in per capita income over the past five years; and
Increasing number of models with different features to satisfy diverse consumer needs.
MARKET CHARACTERISTICS
Demand
Segmental Classification and Characteristics
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The three main product segments in the two-wheeler category are scooters, motorcycles and
mopeds. However, in response to evolving demographics and various other factors, other
subsegments emerged, viz. scooterettes, gearless scooters, and 4-stroke scooters. While the firsttwo emerged as a response to demographic changes, the introduction of 4-stroke scooters has
followed the imposition of stringent pollution control norms in the early 2000. Besides, these
prominent sub-segments, product groups within these sub-segments have gained importance in
the recent years. Examples include 125cc motorcycles, 100-125 cc gearless scooters, etc. The
characteristics of each of the three broad segments are discussed in Table 1.
Table 1
Two-Wheelers: Comparative Characteristics
Scooter Motorcycle Moped
Price*(Rs. as in January
2005)> 22,000 > 30,000 > 12,000
Stroke2-stroke, 4-
stroke
Mainly 4-
stroke2-stroke
Engine Capacity (cc) 90-150 100, 125, > 125 50, 60
Ignition Kick/Electronic Kick/Electronic Kick/Electronic
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Engine Power (bhp) 6.5-9 7-8 and above 2-3
Weight (kg) 90-100 > 100 60-70
Fuel Efficiency (kms
per litre)50-75 50-80+ 70-80
Load Carrying High Highest Low
*Ex-showroom Mumbai
Compiled by INGRES
Segmental Market Share
The Indian two-wheeler industry has undergone a significant change over the past 10 years with
the preference changing from scooters and mopeds to motorcycles. The scooters segment was the
largest till FY1998, accounting for around 42% of the two-wheeler sales (motorcycles and
mopeds accounted for 37% and 21 % of the market respectively, that year). However, the
motorcycles segment that had witnessed high growth (since FY1994) became larger than the
scooter segment in terms of market share for the first time in FY1999. Between FY1996 and9MFY2005, the motorcycles segment more than doubled its share of the two-wheeler industry to
79% even as the market shares of scooters and mopeds stood lower at 16% and 5%, respectively.
Figure 2
Trends in Segmental Share in Industry Sales (FY1996-
9MFY2005)
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While scooter sales declined sharply by 28% in FY2001, motorcycle sales reported a healthy
growth of 20%, indicating a clear shift in consumer preference. This shift, which continues, has
been prompted by two major factors: change in the country's demographic profile, and
technological advancements.
Over the past 10-15 years the demographic profile of the typical two-wheeler customer has
changed. The customer is likely to be salaried and in the first job. With a younger audience, the
attributes that are sought of a two-wheeler have also changed. Following the opening up of the
economy and the increasing exposure levels of this new target audience, power and styling arenow as important as comfort and utility.
The marketing pitch of scooters has typically emphasised reliability, price, comfort and utility
across various applications. Motorcycles, on the other hand, have been traditionally positioned as
vehicles of power and style, which are rugged and more durable. These features have now been
complemented by the availability of new designs and technological innovations. Moreover,
higher mileage offered by the executive and entry-level models has also attracted interest of two-
wheeler customer. Given this market positioning of scooters and motorcycles, it is not surprising
that the new set of customers has preferred motorcycles to scooters. With better ground
clearance, larger wheels and better suspension offered by motorcycles, they are well positioned
to capture the rising demand in rural areas where these characteristics matter most.
Scooters are perceived to be family vehicles, which offer more functional value such as broader
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seat, bigger storage space and easier ride. However, with the second-hand car market developing,
a preference for used cars to new two-wheelers among vehicle buyers cannot be ruled out.
Nevertheless, the past few years have witnessed a shift in preference towards gearless scooters
(that are popular among women) within the scooters segment. Motorcycles, offer higher fuel
efficiency, greater acceleration and more environment-friendliness. Given the declining
difference in prices of scooters and motorcycles in the past few years, the preference has shifted
towards motorcycles. Besides a change in demographic profile, technology and reduction in the
price difference between motorcycles and scooters, another factor that has weighed in favour of
motorcycles is the high re-sale value they offer. Thus, the customer is willing to pay an up-front
premium while purchasing a motorcycle in exchange for lower maintenance and a relatively
higher resale value.
Supply
Manufacturers
As the following graph indicates, the Indian two-wheeler industry is highly concentrated, with
three players-Hero Honda Motors Ltd (HHML), Bajaj Auto Ltd (Bajaj Auto) and TVS Motor
Company Ltd (TVS) - accounting for over 80% of the industry sales as in 9MFY2005. The other
key players in the two-wheeler industry are Kinetic Motor Company Ltd (KMCL), Kinetic
Engineering Ltd (KEL), LML Ltd (LML), Yamaha Motors India Ltd (Yamaha), Majestic Auto
Ltd (Majestic Auto), Royal Enfield Ltd (REL) and Honda Motorcycle & Scooter India (P) Ltd
(HMSI).
Figure 3
Shares of Two-Wheeler Manufacturers in Industry Sales (FY2000-
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9MFY2005)
Although the three players have dominated the market for a relative long period of time, their
individual market shares have undergone a major change. Bajaj Auto was the undisputed market
leader till FY2000, accounting for 32% of the two-wheeler industry volumes in the country that
year. Bajaj Auto dominance arose from its complete hold over the scooter market. However, as
the demand started shifting towards motorcycles, the company witnessed a gradual erosion of its
market share. HHML, which had concentrated on the motorcycle segment, was the main
beneficiary, and almost doubled its market share from 20% in FY2000 to 40% in 9MFY2005 toemerge as the market leader. TVS, on the other hand, witnessed an overall decline in market
share from 22% in FY2000 to 18% in 9MFY2005. The share of TVS in industry sales fluctuated
on a year on year basis till FY2003 as it changed its product mix but has declined since then.
Technology
Hitherto, technology transfer to the Indian two-wheeler industry took place mainly through:
licensing and technical collaboration (as in the case of Bajaj Auto and LML); and joint ventures
(HHML).
Table 2
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Technological tie-ups of Select Players
Nature of Alliance Company Product
Bajaj Auto Technological tie-up Kawasaki Heavy Industries
Ltd, Japan
Motorcycles
Technological tie-up Tokya R&D Co Ltd, Japan Two-wheelers
Technological tie-up Kubota Corp, Japan Diesel
Engines
HHML Joint Venture Honda Motor Co, Japan Motorcycles
KEL Technological tie-up Hyosung Motors & Machinery
Inc
Motorcycles
KEL Tie up for
manufacturing
and distribution
Italjet, Italy Scooters
LML Technological tie-up Daelim Motor Co Ltd Motorcycles
Hero
Motors
Technological tie-up Aprilia of Italy Scooters
.BAJAJ Auto limited
Bajaj Auto is a major Indian automobile manufacturer. It is India's largest and the world's 4thlargest two- and three-wheeler maker. It is based in Pune, Maharashtra, with plants in Akurdi and
Chakan (Pune),Waluj (near Aurangabad) and Pantnagar in Uttaranchal. Bajaj Auto makes and
exports motorscooters, motorcycles and the auto rickshaw.
The Forbes Global 2000 list for the year 2005 ranked Bajaj Auto at 1946.
http://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Automobilehttp://en.wikipedia.org/wiki/Punehttp://en.wikipedia.org/wiki/Maharashtrahttp://en.wikipedia.org/wiki/Chakanhttp://en.wikipedia.org/wiki/Aurangabad,_Maharashtrahttp://en.wikipedia.org/wiki/Pantnagarhttp://en.wikipedia.org/wiki/Uttaranchalhttp://en.wikipedia.org/wiki/Motorscootershttp://en.wikipedia.org/wiki/Motorcycleshttp://en.wikipedia.org/wiki/Auto_rickshawhttp://en.wikipedia.org/wiki/Forbes_Global_2000http://en.wikipedia.org/wiki/Forbes_Global_2000http://en.wikipedia.org/wiki/Auto_rickshawhttp://en.wikipedia.org/wiki/Motorcycleshttp://en.wikipedia.org/wiki/Motorscootershttp://en.wikipedia.org/wiki/Uttaranchalhttp://en.wikipedia.org/wiki/Pantnagarhttp://en.wikipedia.org/wiki/Aurangabad,_Maharashtrahttp://en.wikipedia.org/wiki/Chakanhttp://en.wikipedia.org/wiki/Maharashtrahttp://en.wikipedia.org/wiki/Punehttp://en.wikipedia.org/wiki/Automobilehttp://en.wikipedia.org/wiki/India -
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Over the last decade, the company has successfully changed its image from a scooter
manufacturer to a two wheeler manufacturer. Its product range encompasses scooterettes,
scooters and motorcycles. Its real growth in numbers has come in the last four years after
successful introduction of a few models in the motorcycle segment.
The company is headed by Rahul Bajaj who is worth more than US$1.5 billion.
Bajaj Auto came into existence on November 29, 1945 as M/s Bachraj Trading Corporation
Private Limited. It started off by selling imported two- and three-wheelers in India. In 1959, it
obtained license from the Government of India to manufacture two- and three-wheelers and it
went public in 1960. In 1970, it rolled out its 100,000th vehicle. In 1977, it managed to produce
and sell 100,000 vehicles in a single financial year. In 1985, it started producing at Waluj in
Aurangabad. In 1986, it managed to produce and sell 500,000 vehicles in a single financial year.
In 1995, it rolled out its ten millionth vehicle and produced and sold 1 million vehicles in a year.
BAJAJ PULSAR
DTSi Bajaj Pulsar is a motorcycle brand owned by Bajaj Auto in India.
The two wheeler was developed by the product engineering division of
Bajaj Auto in association with motorcycle designer Glynn Kerr Tokyo
R&D. Currently there are four variants available -with engine capacities
of 150cc, 180 and two variants with capacities of 220 cc. More than a
million units of Pulsar were sold by November 2005. A Pulsar 200
variant was discontinued in July 2009. With monthly sales of more than
48,000 units in June 2009, Pulsar is the leader in the 150 cc segment in
India with a market share of 43%.
Before the introduction of the Pulsar, the Indian motorcycle market trendwas towards fuel efficient, small capacity motorcycles (that formed the80-125 cc class). Bigger motorcycles with higher capacity virtually didnot exist (except for Enfield Bullet). The launch and success ofHeroHonda CBZ in 1999 showed that there was demand for performancebikes. Bajaj took the cue from there on and launched the Pulsar twins in
http://en.wikipedia.org/wiki/Rahul_Bajajhttp://en.wikipedia.org/wiki/November_29http://en.wikipedia.org/wiki/1945http://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/Aurangabad_District,_Maharashtrahttp://en.wikipedia.org/wiki/Motorcyclehttp://en.wikipedia.org/wiki/Bajaj_Autohttp://en.wikipedia.org/wiki/Indiahttp://www.r-d.co.jp/eng/http://www.r-d.co.jp/eng/http://en.wikipedia.org/wiki/Royal_Enfieldhttp://en.wikipedia.org/wiki/Hero_Honda_CBZhttp://en.wikipedia.org/wiki/Hero_Honda_CBZhttp://en.wikipedia.org/wiki/Hero_Honda_CBZhttp://en.wikipedia.org/wiki/Hero_Honda_CBZhttp://en.wikipedia.org/wiki/Royal_Enfieldhttp://www.r-d.co.jp/eng/http://www.r-d.co.jp/eng/http://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Bajaj_Autohttp://en.wikipedia.org/wiki/Motorcyclehttp://en.wikipedia.org/wiki/Aurangabad_District,_Maharashtrahttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/1945http://en.wikipedia.org/wiki/November_29http://en.wikipedia.org/wiki/Rahul_Bajaj -
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India on November 24, 2001. Since the introduction and success of BajajPulsar, the Indian youth began expecting high power and other featuresfrom affordable motorcycles.
DTSi stands for Digital Twin Spark Ignition, a Bajaj Auto trademark.
Bajaj Auto holds an Indian patent for the DTSi technology. The AlfaRomeo Twin-Spark engines, the BMW F650 Funduro which was sold inIndia from 1995 to 1997 also had a twin-spark plug technology, and theRotax motorcycle engines,more recently Honda's iDSI Vehicle enginesuse a similar arrangement of two spark-plugs. However very few smallcapacity engines did eventually implement such a scheme in theirproduction prototypes.
Key players in the Bike segment :
BAJAJ AUTO HERO HONDA
TVS
YAMAHA
ROYAL ENFIELD
http://en.wikipedia.org/wiki/November_24http://en.wikipedia.org/wiki/2001http://en.wikipedia.org/wiki/Spark_Ignitionhttp://en.wikipedia.org/wiki/BMW_F650_singlehttp://en.wikipedia.org/wiki/BMW_F650_singlehttp://en.wikipedia.org/wiki/Spark_Ignitionhttp://en.wikipedia.org/wiki/2001http://en.wikipedia.org/wiki/November_24 -
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Objective of Study
The objective of this research is to determine the customer as well as
retailers preferences regarding different brands of motorcycles which
result in their market share. It involves the study of consumers buying
behaviour and attitudes towards a variety of attributes and factors, which
help them in decision-making.
The brand we chose to focus on was BAJAJ AUTO Ltd.s PULSAR
brand of bikes. We studied the company profile, its market structure, the
brand awareness, growth rates and popularity among consumers so as to
forecast the future sales and understand the growth trends.We designed a questionnaire to survey various dealers and consumers to
understand the demand and supply situation of the bike market.
Secondary data from the internet has also been used for effective
analysis.
Importance of Study
The importance of this study is to practically understand the relevance of
the concepts of managerial economics in the business organisations and
here in the realm of the motorcycles industry. The present market
scenario was analyzed and future demands forecasted using the simple
regression techniques. Also, a comprehensive study of the major factors
involved in this market was conducted so as to see how different and
similar a market structure is from the theories.
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Methodology
Primary data collection:
For primary data collection we designed a questionnaire to survey
various dealers and consumers. The objective of survey was to
understand the consumer preferences among various brands of
motorcycles available in the market and the factors affecting consumer
buying process.
The sample size for the survey was around 40-50.
Secondary data collection:
Internet was the major source for secondary data. Apart from
understanding the bike industry in general and Bajaj in specific, our
major task was to analyse the consumer demand for Bajajs PULSARs
brand and project the future sales for the company. We have used the
trend projection and exponential forecasting technique to predict the
sales.
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Market share and Growth rates
Two- wheeler sales in the country have sky rocketed in the recent years,
and the annual sales of motorcycles in India expected to cross the 10
million mark by 2010. The low penetration of two-wheelers in the
country 31 two-wheelers per 1000 citizens (2004) leaves immense scope
for the growth of the market. Overall the industry sales of two-wheelers
have grown by 15% from 6.57 million in 2004/2005 to 7.57 million in
2005/2006. The buoyant Indian economy with a growth rate of around
8% per annum is further expected to fuel the growth of two wheelers inthe country.
The share of motorcycles have increased over the years, while that of other two-
wheelers like geared scooters, scooterettes and mopeds have shown a negative
growth or remained stagnant. The two-wheelers have penetrated 7% of rural house
hold and 24% of urban markets, thus it leaves an immense scope for the market to
grow.
Bajaj Auto one of the leading producers of automobiles in the country has beenable to sell close to 2.3 million vehicles in 2005/2006, the sales of the company
grew by almost 31%. The company registered a 32% growth in the sales of
motorcycles much above the industry average of 19%. Bajaj Auto has emerged as
a market leader in the entry level or price segment motorcycle with the Bajaj CT
100 accounting for nearly 40% of the market share. It also commands a 62%
market share in the premium segment of motorcycles with products like the Bajaj
Pulsar DTSI. TVS Motors which has lots of firsts to its credit in the two-wheeler
sector in the country was able to sell 1.34 million units during the same period thus
registering an overall growth of 15% from the previous year. In the motorcycle
segment the company's growth in sales was in sync with the industry average.
f this figures have daunted you the best is yet to come, the country leader
in two-wheelers hero honda have crossed the three million mark during
the year 2005/2006 which is a good few lakhs more than its nearest
http://www.automobileindia.com/two-wheeler-models-in-india/bajaj-auto.htmlhttp://www.automobileindia.com/two-wheeler-models-in-india/bajaj-auto.html -
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competitor Bajaj Auto. The company accounted for nearly 40% of then
two-wheeler market. In the motorcycle segment the company has been
able to attain a market share of about 50%. The segment in which hero
honda has emerged as a clear winner is the Deluxe segment, which is thelargest segment in the motorcycles category, with its flagship family of
motorcycles splendor selling over 1.2 million units which is just a shade
less than all the two wheelers sold by TVS during the same year.
The motorcycle category is expected to see a further growth and
according to industry experts it will drive all other category of two-
wheelers to the periphery.
The table below shows the over all trend of Industry Sales over a 5 year
period. The figures are provided by the Society of automobile
Manufactures Association (SIAM).
Two-wheeler domestic sales trend
Motorcycles
2001-02 2002-03 2003-04 2004-05 2005-06
2887194 3647493 4170445 4964753 5815417
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MARKET STRUCTURE
Market Structure
This industry is a high volume, medium growth sector characterized by
excess/ idle capacities owing to in efficient operations. Imports have not
been influencing prospects, as high government regulations limit this .
Characteristics
BIKES : primarily a commodity market - price sensitive
Effective distribution chain - through a simple network of dealers
and franchises.
Regulation - Emission norms as well as import regulations are in
existence.
Market - Urban areas are the largest market for Pulsar, followed by smalltowns and then rural centres.
The market of motorcycles shows a monopolistic structure due to the
following factors:
Different and many players in the market
Differentiated products.
Prices charged are different.
The competition is a non price competition i.e on the basis of
advertising and delivering differentiated products.
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PRIMARY DATA ANALYSIS
1.Age group classification of customers preferring Bajaj Pulsar
18-24 24%
24-30 38%
30-36 19%
ABOVE 36 19%
As is clear the maximum buyers are of the age group 24-30 , hence it
can be interpreted as being popular in college going youth.
2.Bikes owned (categorisation)-
pulsarbajaj Splendor
Apache Unicorn
cd-dawn enfield
bullet(old)hunk enticer
ct100 CBZ
Pulsar DTS i hero honda
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3.ANUAL HOUSEHOLD INCOME
10LAKH
15%
Which shows that a majority group belonging to the pulsar kind of bikesis more from the income group category 3-5 & 5-10 lakh group.
Moreover none of the customer was from < 1 lakh category which is also an
important finding from the marketing point of view.
income group share of survey
0%
5%
10%
15%
20%
25%
30%
35%
40%
10 LAKH
income group
%s
ha
re
Series1
income group share of survey
10 LAKH
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Summary report (graphical representation of collected data)
4.purpose of the bike
(office/traveling/household/adventure/other)
1
-
LOWEST 30%
2 10%
3 15%
4 5%
5
-
HIGHEST 40%
LOWEST HIGHEST
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LOWEST HIGHEST
1 - LOWEST 5%
2 20%
3 35%
4 40%
5 - HIGHEST 0%
LOWEST HIGHEST
1 - LOWEST 1 5%
2 9 45%
3 1 5%
4 6 30%
5 - HIGHEST 3 15%
OTHER
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LOWEST HIGHEST
1 - LOWEST 33%
2 0%
3 33%
4 0%
5 - HIGHEST 33%
PLEASE SPECIFY THE OTHER FACTOR
College, small town movement, status ,shopping
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5.Buying decision
Mileage/looks/brand/service/price
LOWEST HIGHEST
1
-
LOWEST 0%
2 0%
3 30%
4 25%
5
-
HIGHEST 45%
LOWEST HIGHEST
1
-
LOWEST 0%
2 0%
3 25%
4 35%
5
-
HIGHEST 40%
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LOWEST HIGHEST
1
-
LOWEST 0%
2 0%
3 20%
4 45%
5
-
HIGHEST 35%
LOWEST HIGHEST
1
-
LOWEST 0%
2 15%
3 55%
4 25%
5
-
HIGHEST 5%
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LOWEST HIGHEST
1
-
LOWEST 0%
2 0%
3 40%
4 30%
5
-
HIGHEST 30%
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6.Purchasing decision
Friends/family/dealer/adventure/other
LOWEST HIGHEST
1
-
LOWEST 0%
2 5%
3 55%
4 0%
5
-
HIGHEST 40%
LOWEST HIGHEST
1
-
LOWEST 15%
2 15%
3 25%
4 20%
5
-
HIGHEST 25%
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LOWEST HIGHEST
1
-
LOWEST 25%
2 40%
3 30%
4 5%
5
-
HIGHEST 0%
LOWEST HIGHEST
1
-
LOWEST 0%
2 10%
3 50%
4 15%
5
-
HIGHEST 25%
OTHER FACTORS
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LOWEST HIGHEST
1
-
LOWEST 75%
2 0%
3 0%
4 25%
5
-
HIGHEST 0%
PLEASE SPECIFY THE OTHER FACTOR
College, work requirements
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7.Chosen media
Television/hoarding/print media/internet/other
LOWEST HIGHEST
1
-
LOWEST 0%
2 0%
3 0%
4 15%
5
-
HIGHEST 85%
LOWEST HIGHEST
1
-
LOWEST 5%
2 15%
3 20%
4 45%
5
-
HIGHEST 15%
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LOWEST HIGHEST
1
-
LOWEST 0%
2 5%
3 10%
4 60%
5
-
HIGHEST 25%
LOWEST HIGHEST
1
-
LOWEST 30%
2 20%
3 20%
4 20%
5
-
HIGHEST 10%
OTHERS
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LOWEST HIGHEST
1
-
LOWEST 50%
2 25%
3 25%
4 0%
5
-
HIGHEST 0%
IF OTHERS PLEASE SPECIFY
Radio,pamphlets
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8.Brand powerEasy recall
Bajaj/herohonda/Yamaha/Honda/tvs
LOWEST HIGHEST
1
-
LOWEST 0%
2 0%
3 10%
4 25%
5
-
HIGHEST 65%
LOWEST HIGHEST
1
-
LOWEST 0%
2 0%
3 0%
4 60%
5
-
HIGHEST 40%
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LOWEST HIGHEST
1
-
LOWEST 0%
2 35%
3 30%
4 35%
5
-
HIGHEST 0%
LOWEST HIGHEST
1
-
LOWEST 5%
2 5%
3 45%
4 35%
5
-
HIGHEST 10%
TVS
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LOWEST HIGHEST
1
-
LOWEST 15%
2 50%
3 25%
4 10%
5
-
HIGHEST 0%
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8.Bike on preference
Pulsar/apache/f-z 150/hunk/other
LOWEST HIGHEST
1
-
LOWEST 0%
2 0%
3 10%
4 45%
5
-
HIGHEST 45%
LOWEST HIGHEST
1-
LOWEST 0%
2 5%
3 30%
4 65%
5
-
HIGHEST 0%
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LOWEST HIGHEST
1
-
LOWEST 5%
2 0%
3 5%
4 30%
5
-
HIGHEST 60%
LOWEST HIGHEST
1
-
LOWEST 0%
2 10%
3 40%
4 50%
5
-
HIGHEST 0%
ANY OTHER
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LOWEST HIGHEST
1
-
LOWEST 0%
2 0%
3 0%
4 50%
5
-
HIGHEST 50%
IF OTHER,PLEASE SPECIFY
Splendor,karizma
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9.Perception parameters about pulsar
Style/power/performance/value/brand
LOWEST HIGHEST
1
-
LOWEST 0%
2 0%
3 25%
4 20%
5
-
HIGHEST 55%
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LOWEST HIGHEST
1
-
LOWEST 0%
2 5%
3 20%
4 45%
5
-
HIGHEST 30%
LOWEST HIGHEST
1
-
LOWEST 0%
2 0%
3 45%
4 35%
5
-
HIGHEST 20%
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LOWEST HIGHEST
1
-
LOWEST 0%
2 5%
3 35%
4 55%
5
-
HIGHEST 5%
LOWEST HIGHEST
1
-
LOWEST 0%
2 0%
3 10%
4 80%
5
-
HIGHEST 10%
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Some direct inferences
.Factors influencing the buying behavior
Brand recall
No. of Customers
Friends
Dealer
FamilyAdvertizement
50%
26%
6%
2%16%
Ad Recall
Bajaj Hero Honda Honda Tvs Yamaha
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Sales Forecasting
1. Trend projection method:
This classical method of business forecasting is essentially concerned
with the study of movements of variables through time. It is used underthe assumption that the factors responsible for past trends in the variable
to be projected will continue to play their part in the future in the same
manner and to the same extent in magnitude and direction.
There are three techniques of trend projection:
-Jenkins method
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Sales forecast of Pulsar for the year 2008 using Least Square
method (which is same as simple linear regression method):
YEAR SALES(S)in
Crores
T T2
ST
2000 865 1 1 8652001 1011.55 2 4 2023.12002 1374.94 3 9 4124.822003 1512.43 4 16 6049.722004 1647.86 5 25 8239.32005 1799.6 6 36 10797.6TOTAL 8211.38 21 91 32099.54
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1.Trend Projection Method:
The straight line trend equation used for projecting future sales is:
S = a + bT
Where, S = annual sales
T = time in years
a, b are constants
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The constants a and b are estimated by solving the following two
equations:
S = na + bT
ST = aT + bT2
Here, n = 6
S = 8211.38 crores
ST = 32099.54 crores
T = 21
T2
= 91
On solving the above two equations we get,
a = 696.63 and b = 191.98
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RMSE Calculation:
On the basis of the calculated values of a and b, the predicted sales value
for the years 2006,
2007 and 2008 will be:
Sp2006 = 696.63 + (191.98*7) = 2040.49 crore
Sp2007 = 696.63 + (191.98*8) = 2232.47 crore
Sp2008 = 696.63 + (191.98*9) = 2424.45 crore
And, the actual sales values for the above three years are:
Sa2006 = 2072.00 crore
Sa2007 = 2487.00 crore
Sa2008 = 3497.00 crore
RMSE = {(3497.00 2424.45)2+ (2487.00 2232.47) 2+ (2072.00
2040.49)2}1/2
(3)1/2
= 636.69
Sales for 2009 and 2010 can also be forecasted:
S2009 = 696.63 + (191.98*10) = 2616.43 crore
S2010 = 696.63 + (191.98*11) = 2808.41 crore
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3. Exponential smoothing:
It is a popular technique for short-run forecasting. It uses a weighted
average of past data as the basis for a forecast. It gives higher weight to
most recent data and least weight to observations of distant past. Theweights for past data are chosen in accordance with their degree of
influence on the future. The formula for exponential smoothing is-
ST+1 = AyT + (1-a) St
Where, St+1 = exponentially smoothed forecast
Yt = actual sales of previous year
St = forecasted sales of last year
Now, we apply this method on the available sales data of AWL
considering a six period average as the initial forecast for the year 2006:
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S2006 = (865.00+1011.55+1374.94+1512.43+1647.86+1799.60)/6
= 1368.56
We take the smoothing constant, a = 0.4
Therefore, S2007 = (0.4*2072) + (0.6*1368.56)
= 1649.93
S2008 = (0.4*2487) + (0.6*1509.25)
= 1984.75
RMSE Calculation:
RMSE = {(2072.00 1368.56)2+ (2487.00 1649.93)
2+ (3497
1984.75)2
}1/2
(3 )1/2
= 1077.406
Sales for the year 2009 can also be predicted as:
S2009 = (0.4*3497.00) + (0.6*1984.75) = 2589.65 cr
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Calculation of Correlation:
Correlation Coefficient = 3359.71/(6-1)*(364.848*1.871)
=0.984
This shows that there is a high degree of correlation between the time
period and sales i.e more the time period, more are the sales. This means
that sales are highly dependent on the time period positively.
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Calculation of Herfindahl Index
Market shares of various brands in premium segment i.e. 150-220 c.c.
Pulsar : 41%
Hero Honda: 27%
TVS: 25%
Royal Enfield: 5%
Yamaha: 2%
Herfindahl Index: (41^2)+(27^2)+(25^2)+(5^2)+(2^2)
=3064
Since the value of H (Herfindahl index) is high, we can say that the
concentration ratio is also high in the segment of premium bikes.
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PRICE REGRESSION PRICE ANALYSIS
The maximum number of bikes lie in the range between 40-50 thousands which is also a
usp of pulsar as it is almost near to the given range and provides a better value for money.
bike vs price in india
0102030405060708090
100
Sp
irit Byk
Boxe
r
Pulsa
r
Discove
r
Pass
ionP
lus
Ambitio
n
Activ
a
ZXZoom
GF-1
70
Pu
lse
Energ
y
Freedom
Beam
er
Bu
llet
Max10
0
Fier
o
Cru
x
Liber
o
bike type
bike
price
Series1
bike price distribution in india
0
10
20
30
40
50
60
70
80
90
100
0 20 40 60 80 100
price range
Types
ofbikes
Series1
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0
10
20
30
40
50
60
70
80
90
Price
1
Bikes
veiw of bikes in india with priceSpirit
M80
Saffire
Chetak
Chetak
Byk
Byk
Caliber
Caliber
BoxerBoxer
Boxer
Pulsar 150
Pulsar
Pulsar
Pulsar
Eliminator
Wind 125
Wind 125
Discover
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APPENDIX
Questionnaire for Bike Customers
(The findings of this survey will be used only for academic purposes by the
students of Lal Bahadur Shastri Institute of Management,New delhi)
Q1.Name of the customer
Q2.Age :
18-24
24-30
30-36
ABOVE 36
Q3.WHICH BIKE DO YOU OWN PRESENTLY ?
Q4.ANUAL HOUSEHOLD INCOME
10 LAKH
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Q5.WHAT IS THE PURPOSE OF YOUR BIKE?
(RATE ON 5 POINT SCALE-5 BEING THE HIGHEST AND 1 BEING THE
LOWEST )
a)OFFICE
1 2 3 4 5
LOWEST HIGHEST
b)TRAVELLING
1 2 3 4 5
LOWEST HIGHEST
c)HOUSEHOLD
1 2 3 4 5
LOWEST HIGHEST
d)ADVENTURE
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1 2 3 4 5
LOWEST HIGHEST
e)OTHER
1 2 3 4 5
LOWEST HIGHEST
PLEASE SPECIFY THE OTHER FACTOR
Q6.RATE THE KEY FACTORS WHICH AFFECTED YOUR BUYING DECISION?
(5 BEING THE HIGHEST AND 1 BEING THE LOWEST )
a)MILEAGE
1 2 3 4 5
LOWEST HIGHEST
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b)LOOKS
1 2 3 4 5
LOWEST HIGHEST
c)BRAND
1 2 3 4 5
LOWEST HIGHEST
d)SERVICE
1 2 3 4 5
LOWEST HIGHEST
e)PRICE
1 2 3 4 5
LOWEST HIGHEST
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Q7.WHICH OF THE FOLLOWING INFLUENCES YOUR PURCHASE DECISION?
(RATE ON 5 POINT SCALE-5 BEING THE HIGHEST AND 1 BEING THE
LOWEST )
a)FRIENDS
1 2 3 4 5
LOWEST HIGHEST
b)FAMILY
1 2 3 4 5
LOWEST HIGHEST
c)DEALER
1 2 3 4 5
LOWEST HIGHEST
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d)ADVERTISEMENT
1 2 3 4 5
LOWEST HIGHEST
e)OTHER FACTORS
1 2 3 4 5
LOWEST HIGHEST
PLEASE SPECIFY THE OTHER FACTOR
Q8.WHICH OF THE FOLLOWING MEDIA ARE YOU MOST LIKELY TO NOTICE AN
ADVERTISEMENT ?
(RATE ON 5 POINT SCALE-5 BEING THE HIGHEST AND 1 BEING THE
LOWEST )
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a)TELEVISION
1 2 3 4 5
LOWEST HIGHEST
b)HOARDINGS
1 2 3 4 5
LOWEST HIGHEST
c)PRINT MEDIA
1 2 3 4 5
LOWEST HIGHEST
d)INTERNET
1 2 3 4 5
LOWEST HIGHEST
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e)OTHERS
1 2 3 4 5
LOWEST HIGHEST
IF OTHERS PLEASE SPECIFY
Q9.WHICH BRAND NAME DO YOU FIND EASY TO RECALL?
(RATE ON 5 POINT SCALE-5 BEING THE HIGHEST AND 1 BEING THE
LOWEST )
a)BAJAJ
1 2 3 4 5
LOWEST HIGHEST
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b)HERO HONDA
1 2 3 4 5
LOWEST HIGHEST
c)YAMAHA
1 2 3 4 5
LOWEST HIGHEST
d)HONDA
1 2 3 4 5
LOWEST HIGHEST
e)TVS
1 2 3 4 5
LOWEST HIGHEST
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Q10.RATE THE BIKES ON THE BASIS OF YOUR PREFERENCE?
(RATE ON 5 POINT SCALE-5 BEING THE HIGHEST AND 1 BEING THELOWEST )
a)PULSAR
1 2 3 4 5
LOWEST HIGHEST
b)APACHE
1 2 3 4 5
LOWEST HIGHEST
c)F-Z 150
1 2 3 4 5
LOWEST HIGHEST
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d)HUNK
1 2 3 4 5
LOWEST HIGHEST
e)ANY OTHER
1 2 3 4 5
LOWEST HIGHEST
IF OTHER,PLEASE SPECIFY
Q11.RATE YOUR PERCEPTION ABOUT PULSAR ON THE FOLLOWING FACTORS-
(RATE ON 5 POINT SCALE-5 BEING THE HIGHEST AND 1 BEING THE
LOWEST )
a)STYLE
1 2 3 4 5
LOWEST HIGHEST
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b)POWER
1 2 3 4 5
LOWEST HIGHEST
c)PERFORMANCE
1 2 3 4 5
LOWEST HIGHEST
d)VALUE
1 2 3 4 5
LOWEST HIGHEST
e)BRAND
1 2 3 4 5
LOWEST HIGHEST
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0
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REFERENCES
1.EBSCO HOST(database)
2.PROWESS(database)
3. INDIA STATS(database)
4.Peterson, Lewis and Jain: Managerial Economics
5.www.bajajauto.com
6.http://auto.indiamart.com/motorcycles/bajaj-pulsar
7.http://www.fadaweb.com/two_wheeler_industry.htm
8.auto.indiamart.com/motorcycles
9.www.iloveindia.com/bikes/index.html
10. www.infibeam.com/bikes/make/herohonda.html11. bikes.whereincity.com
12. www.bikesalesindia.com
13. www.infibeam.com/bikes/make/bajaj.html
14. www.autoblogs.in/.../bajaj-pulsar-300-cc-india-bajaj-bikes.html
15. www.autoindiaforum.com/bajaj-to-launch-6-new-bikes-in-2009.html
16.FOR VEIWING THE COLLECTEDPRIMARY DATA VISIT
http://spreadsheets.google.com/ccc?key=0Au4_eI1zvZ0YdF8yT2VC
RHFKWmJZQm4zQkdlQ0d3enc&hl=en
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