Bajaj Auto was down in the dumps for over a year. But after much soul-searching, Rajiv Bajaj tried a whole new strategy to take on Hero Honda. And that's now beginning to pay off
For almost a year now, Rajiv Bajaj, the 42-year-old managing director of Bajaj Auto and India’s No. Two motorcycle maker had tried to shut out the outside world. There was a constant stream of stories about how the company’s market share had plummeted or how its share price had dropped to its lowest level in over a decade. Almost everybody seemed to think that their bête noire, the Munjals of Hero Honda, had turned out to be decisive winners in their fight with the Bajaj family.
But today, the siege is finally lifting. News has just trickled out that Discover M, a new 100 cc bike Bajaj Auto launched in July, has taken the market by storm.(This story appears in the 04 June, 2010 issue of Forbes India. To visit our Archives, click here.)