Bajaj auto is expecting to launch the RE60, also called quadricycle, by the end of the current financial year. The prototype of the RE60, a four-wheeled passenger carrier, was first unveiled at the 2012 New Delhi Auto Expo. Notably, the RE60 does not fit in any of the categories that currently exist, which requires the addition of a new section in the Central Motor Vehicle Rules (CMVR). This quadricycle is a low-speed and lightweight vehicle that is aimed at facilitate commuting within a particular city.
“The draft gazette notification (for the four-wheeled vehicle) has gone to the law ministry. After the law ministry, it will get published in the government papers. After that comments will be invited from people,” RC Maheshwari the President (Sales and Marketing), Commercial Vehicles of Bajaj Auto. Adding further, he said “Till then we cannot launch this product. We hope that between October and March this year. Somewhere between that period we should be able to launch the product RE 60.”
In response to a particular question, Maheshwari explained that the firm has spotted a huge potential in this category and is thereby, betting hugely on the replacement sales of three wheelers. The company sees as potential of recording replacement sales of up to 1 lakh in a year. However, the world's largest three-wheeler maker feels that it will add to the overall sales even if 20 per cent of the potential target is achieved.
Maheshwari was in Hyderabad to launch the new range of Bajaj RE Compact passenger three wheelers. He there said that Bajaj Auto has a target of selling around three lakh units of three-wheelers by the end of the next financial (FY15). “By next year end we want to reach volume of 300 thousand vehicles in the domestic market. Last year we did about 222 thousand vehicles. And by next year with new launches we should be able to touch 3 lakh vehicles in the domestic market,” he said.
Elaborating further, he said that the company recorded a jump of 53.83 per cent in the sales of commercial vehicles. According to company reports, it sold 41,205 units this month as compared to 26,785 units during the same time period last year.