Bajaj set to launch 4-stroke Saffire

PUNE, Oct 20: Bajaj Auto Ltd chairman and managing director Rahul Bajaj rolled out Saffire - India's first 4-stroke scooter with a three ...

PUNE, Oct 20: Bajaj Auto Ltd chairman and managing director Rahul Bajaj rolled out Saffire 8211; India8217;s first 4-stroke scooter with a three speed automatic transmission from its state-of-the-art plant at Chakan, which was inaugurated here today. The first phase of the plant will see an investment of around Rs 300 crore and will initially have capacity to manufacture around 1000 scooters per day.

Spread over 196 acres, the new plant of Bajaj Auto will be first rolling out Saffire which will be commercially available for sale across the country in a phased manner from January 2000 onwards. Developed with Tokyo Ramp;D, Japan, the Saffire is priced at Rs 33,237 ex-showroom Pune. This will be the second four-stroke scooter from the Bajaj stables after the launch of Legend.

Senior company sources said that there are plans to shift production of Spirit to this new plant. This plant will also be manufacturing new scooters planned with Italian partner Cagiva. The company is planning to unveil a host of new products at the Auto Expo in January 2000.

The sale of the company8217;s new products during the year 1998-99 such as Spirit, Bravo, Legend and Caliber was 30 per cent of the total number of two wheelers sold during the period. The four-stroke front engine and rear engine three-wheeler will be introduced in the current quarter. Ultra low emission four-stroke three-wheelers fueled by CNG and LPG are under development.

Bajaj Auto has registered a marginal drop in production and sale of two and three wheelers. This year8217;s half yearly sales is also down to 6,31,329 units compared to 6,83,573 units last year for the corresponding period. The company8217;s half-year sales has gone up marginally to Rs 1717.32 crore from last year8217;s Rs 1692.40 crore. Other income has gone up from Rs 128.54 crore previous year to Rs 168.10 crore this year. Total sales and other income last year was Rs 1820.94 which has gone up to Rs 1885.42 crore.

Gross profit for the half year ended September 30, 1999 is 423.51 crore compared to previous year8217;s Rs 410.05 crore for the same period. Net profit this year is Rs 248.48 compared to last year8217;s s 243.04 crore. The results were announced at the board meeting held in Pune today.