Manufacturers are increasing the on-road prices of products to include the cost of the five-year third-party insurance. In September, manufacturers like Royal Enfield, Honda 2Wheelers and TVS Motor announced a price hike on their entire product portfolio.
Insurance Regulatory and Development Authority (IRDA) made the five-year third-party insurance mandatory after the Supreme Court of India made the third party insurance cover for two-wheelers compulsory for a period of five years.
Honda 2Wheelers’ best selling scooter, the Activa, saw an increase in prices in the range of INR 4,157-INR 6,266. The TVS Jupiter witnessed a jump in prices by INR 4,494 while the new Ntorq 125 got expensive by INR 3,736.
In this post, we’ve listed the updated product prices of Bajaj motorcycles post the five-year third-party insurance. Check out all the prices listed below. All prices mentioned in the table are on-road, Mumbai:
|Model||Previous on-road price||New on-road price|
|CT100||INR 45,900 - INR 53,300||INR 46,597 - INR 54,378|
|Platina||INR 60,300||INR 62,320|
|Discover 110||INR 62,500||INR 67,148|
|Discover 125||INR 64,100 - INR 66,700||INR 71,664 - INR 74,291|
|V15||INR 81,000||INR 82,493|
|Pulsar 150||INR 80,600 - INR 93,100||INR 85,106 - INR 95,985|
|Pulsar 180||INR 98,700||INR 1.05 lakh|
|Pulsar 220F||INR 1.11 lakh||INR 1.18 lakh|
|Pulsar NS160||INR 97,000||INR 1.04 lakh|
|Pulsar NS200||INR 1.17 lakh - INR 1.26 lakh||INR 1.23 lakh - INR 1.36 lakh|
|Avenger 180||INR 1 lakh||INR 1.07 lakh|
|Avenger 220||INR 1.10 lakh||INR 1.18 lakh|
|Pulsar RS200||INR 1.45 lakh - INR 1.59 lakh||INR 1.52 lakh - INR 1.66 lakh|
|Dominar 400 ABS||INR 1.89 lakh||INR 2.05 lakh|
Bajaj's flagship motorcycle, the Dominar 400 ABS, has received an INR 16,000 price hike as the motorcycle now retails for INR 2.05 lakh vs INR 1.89 lakh (on-road Mumbai). The Avenger 180 cruiser has received an INR 7,000 price hike while the Avenger 220 has gotten more expensive by INR 8,000. The Pulsar 150 and the Pulsar 180 have received a hike of INR 4,500 and INR 6,300 respectively.
As the increased prices cover the five-year insurance premium cost which the owner would eventually bear, it's not likely to affect the buying decision of the potential customers and the festive season sales.
Meanwhile, Bajaj Auto's domestic two-wheeler year-on-year sales grew from 1,71,664 units in August 2017 to 2,18,437 units in August 2018, registering a growth of 27 percent. The year-to-date (April to August) two-wheeler sales also increased from 7,63,141 units in 2017 to 10,14,104 units in 2018, marking a growth of 33 percent.