Professional Documents
Culture Documents
SUMMER TRAINING AT
KANNAN MOTORS BAJAJ
Submitted
by
MANIKUMAR.K
(Reg. No. 911818631011)
II Year MBA
of
ANNA UNIVERSITY
CHENNAI 600 025
AUGUST 2019
BONAFIDE CERTIFICATE
a final year student of Master of Business Administration who prepared the report under
my supervision and guidance. Certified further, that to the best of my knowledge the work
reported herein does not form part of any other report or dissertation on the basis of
which a degree or award was conferred on an earlier occasion on this or any other
candidate.
Guide’s Signature
Dr. M. Lakshmi shree
College Seal
DECLARATION
Chennai is my original work which does not from part of the award of any other degree or
Madurai MANIKUMAR.K
Date : (Reg. No.911818631011)
I respect and thank the management, Principal and Staff of our B-School for
summer project on the theme “topic of the summer project” in partial fulfillment of
do the summer project in their organization and extended me all facilities and help for
My special thanks are due to my guide and Supervisor Mr./Mrs/Dr. (M. Lakshmi
Shree) without whose constant supervision and guidance this summer project would not
MANIKUMAR.K
ABSTRACT
Table of Contents
for MBA should be bound using flexible cover of thick white art paper. The spine for
Bajaj Auto Ltd is one of the leading two & three wheeler manufacturers in
India. The company is well known for their R&D, product development,
process engineering and low-cost manufacturing skills. The company is the
largest exported of two and three-wheelers in the country with exports forming
18% of its total sales. The company has two subsidiaries, namely Bajaj Auto
International Holdings BV and PT Bajaj Indonesia.
The company was incorporated on April 30, 2007 as a wholly owned subsidiary
of erstwhile Bajaj Auto Ltd (the holding company) with the name Bajaj
Investment & Holding Ltd. The company received the certificate of
commencement of business on May 7, 2007. The holding company operated in
the segments, such as automotive, insurance and investment, and others.
Considering the growth opportunities in the auto, wind-energy, insurance and
finance sectors, the holding company de-merged their activities into three
separate entities, each of which can focus on their core businesses and
strengthen competencies.
The auto business of the holding company along with all assets and liabilities
pertaining thereto including investments in PT Bajaj Auto Indonesia and in a
few vendor companies transferred to Bajaj Investment & Holding Ltd. In
addition a total of Rs 15,000 million in cash and cash equivalents also
transferred to Bajaj Investment & Holding Ltd. As the part of the scheme, Bajaj
Holdings and Investment Ltd were renamed as Bajaj Auto Ltd. The appointed
date of this de-merger was closing hours of business on March 31, 2007.
In April 9, 2007, the company inaugurated their green field plant at Pantnagar in
Uttarakhand. In the first year of operations, the plant produced over 275,000
vehicles. The companys vehicle assembly plant at Akurdi was shut down from
September 3, 2007 due to higher cost of production.
In November 2007, Bajaj Auto International Holdings BV, a wholly owned
subsidiary company acquired 14.51% equity stake in KTM Power Sports AG of
Austria, Europes second largest sport motorcycle manufacturer for Rs 345
crore.
During the year 2007-08, the company launched XCD 125 DTS-Si and the Three-
wheeler Direct Injected auto rickshaw. The Chakan plant completed the cumulative
production of over 2 million Pulsar.
During the year 2009-10, the company expanded the production capacity of
Motorised Two & Three Wheelers by 300,000 Nos to 4,260,000 Nos. The
company launched Pulsar 220 F, Pulsar 180 UG, Pulsar 150 UG, Pulsar 135 LS
and Discover DTS-si in the market.
During the year 2010-11, the company expanded the production capacity of
Motorised Two & Three Wheelers by 780,000 Nos to 5,040,000 Nos. The
company launched Avenger 220 DTS-i, KTM Duke 125, Discover 150 and
Discover 125 in the market.
The company plans to maintain the capacity of two and three-wheelers at the
current level of 5,040,000 numbers per annum during the year ending 31 March
2012. The 4 wheel vehicle development work is under progress and commercial
launch of the first product from this platform is scheduled for 2012.
In 2012, Bajaj Auto tied up with Japans Kawasaki in Indonesia. In 2013, the
Company has introduced another variant of premium motorcycles under the
Bajaj-KTM joint venture namely Duke 390cc for a price of Rs 1.83 lakh. The
company also received CII Design Excellence Award
In 2014, Bajaj Auto bagged order in Sri Lanka -Peoples Choice Bike of the
Year - CNBC TV18 Overdrive Awards. The Company has also received Bike
of the Year BBC Topgear Awards.
In 2015, Bajaj Auto has introduced the all-new Platina electric start 100 cc bike
to the long-distance commuter.
CHAPTER 02: INDUSTRY PROFILE
The Bajaj Group is amongst the top 10 business houses in India. Its footprint
stretches over a wide range of industries, spanning automobiles (two wheelers
manufacturer and three wheelers manufacturer), home appliances, lighting, iron
and steel, insurance, travel and finance. The group's flagship company, Bajaj
Auto, is ranked as the world's fourth largest three and two wheeler manufacturer
and the Bajaj brand is well-known across several countries in Latin America,
Africa, Middle East, South and South East Asia. Founded in 1926, at the height
of India's movement for independence from the British, the group has an
illustrious history. The integrity, dedication, resourcefulness and determination
to succeed which are characteristic of the group today, are often traced back to
its birth during those days of relentless devotion to a common cause. Jamnalal
Bajaj, founder of the group, was a close confidant and disciple of Mahatma
Gandhi. In fact, Gandhiji had adopted him as his son.
This close relationship and his deep involvement in the independence
movement did not leave Jamnalal Bajaj with much time to spend on his newly
launched business venture. We are celebrating 125th Birth anniversary of Shri.
Jamnalal Bajaj on 4th of November 2014.
His son, Kamalnayan Bajaj, then 27, took over the reigns of business in 1942.
He too was close to Gandhiji and it was only after Independence in 1947, that
he was able to give his full attention to the business. Kamalnayan Bajaj not only
consolidated the group, but also diversified into various manufacturing
activities. The present Chairman of the group, Rahul Bajaj, took charge of the
business in 1965. Under his leadership, the turnover of the Bajaj Auto the
flagship company has gone up from INR.72 million to INR. 120 billion, its
product portfolio has expanded and the brand has found a global market. He is
one of India‟s most distinguished business leaders, bike manufacturer india and
internationally respected for his business acumen and entrepreneurial spirit.
HeroHonda's-entry-in-1984
Entry-into-Motorcycles
This is the segment which brings the highest volumes to the motorcycle market.
Even a few percentage points of market share would translate into numbers in 5
digits. Keeping that in mind, Bajaj lost 1.87 per cent of its market share in 2014,
even though the segment witnessed a decent growth of 4.44 per cent.
The company's range of Discover 100/100 M and Platina 100/ 100 ES finds
itself hammered by market leader Hero Motocorp's onslaught through Splendor/
Passion/ HF Deluxe/ HF Dawn range of motorcycles, which sell almost 4 times
in volumes. Clearly Bajaj falls short of offerings here and needs to introduce
fresh products if it wants to capture a larger pie of this segment.
The exports however show a complete role reversal. Bajaj effectively dominates
the market more or less holding on to its share of almost 74 per cent over the
past three years. The Boxer and CT 100 brands of motorcycles, which are
exclusively made for exports have been well received in the foreign markets. In
fact, Boxer is the leading brand in Africa among all competitors. The company's
exports grew 3.26 per cent in FY14 while the total exports in the segment grew
by 4.43 per cent.
Motorcycles-(110-125cc)
The fall in Bajaj's market share in this segment can be compared to the fall in
crude oil prices over the past one year, both have nearly halved. Bajaj lost 12.35
per cent of its market share in 2014, while the segment grew a miniscule 0.39
per cent over the previous year. Whatever share of pie was lost by Bajaj seems
to have been equally distributed between Hero and Honda. This drastic
performance of the company in a segment where it held one-third of the market
needs to be probed deeper. The Discover brand has been losing its significance
despite having given several product updates. What Bajaj has done is that they
have extended the brand in both the upper 150cc segment and the lower 100c
segment along with tens of variants. Two things could have happened here:
Brand Dilution - presence in three different segments confused customers what
Discover actually stands for, so they migrate to the competitors.
Cannibalization - A price sensitive buyer goes for the lower segment for more
value for money and a performance seeking buyer opts for the upper segment
rendering the middle segment of no consequence. The picture was not that bad
in the exports where Bajaj lost 2.63 per cent market share over FY13 though
there was an increase in the absolute numbers by 12.11 per cent over the
previous year. The company holds 56.49 per cent of the exports in this segment.
TVS and Suzuki, though exporting much lower numbers are steadily increasing
their share.
Motorcycles (125-150cc)
This segment is yet another headache for Bajaj and for the industry as a whole.
The segment volumes have shrunk by 20.67 per cent over the past two years
while that for Bajaj have declined even faster at 36.76 per cent. As a result,
Bajaj's market share has dwindled by a significant 10.42 per cent to land at
40.94 per cent.
A sigh of relief for Bajaj is that they still hold the leadership position in this
segment and are fairly ahead of their closest competitor Honda which holds
26.67 per cent share. However, if this downward trend continues for another
year their leadership position may be well within arm's reach of Honda.
The Pulsar 150 has been Bajaj's star product since its inception and its
'performance' bike image has clicked with the Indian customers. However, the
company has given it the same treatment as the Discover. Pulsar now comes in
5 different engine options - 135/150/180/200/220 cc.
Bajaj has historically followed the strategy of putting more focus on the higher
engine size segments. The company has also launched the Discover 150cc in
2014 to reinforce their market presence. Though these segments contribute a
lower volume as compared to executive bikes, they are expected to grow
significantly in the long term as the customers move upmarket. If that happens,
Bajaj might have a competitive edge by having a stronger brand and a wider
product portfolio.
The situation on the export side looks much worse than the domestic. The
segment returnedto almost the same volumes in 2014 as it had in 2012 but sadly
Bajaj's did not. Their volumes got eroded by 22.32 per cent. As a result, the
share of exports dwindled from 65.51 per cent in FY12 to 51.05 per cent at the
end of FY14. The volume eater for the company here is Yamaha Motors whose
share increased from 20.79 per cent to 33.98 per cent over the two years. Here
too, Bajaj's leadership position is under grave danger and the panic button
should have been pressed by now.
Motorcycles (150-200cc)
This segment has only two players fighting with each other. Bajaj offers the
Pulsar 180 and 200NS along with KTM Duke 200 and RC 200 while TVS's
Apache RTR is their lone fighter. Contrary to expection, this lone fighter
completely demolishes the comparatively fresh opposition single handedly. In
FY14, TVS snatched away 10.20 per cent market share from Bajaj despite the
product onslaught by the latter. This being a more premium segment with major
customers being the urban youth, the importance of brand is significant.
Keeping that in mind, having a strong domestic brand like Pulsar and a global
brand like KTM has not helped Bajaj salvage its volumes.
On the other hand, exports in this segment have seen stellar growth for the
company. Over the past two years Bajaj's volumes have grown by 171%, much
faster than the overall export growth of 72 per cent. Much of this success is
credited to new model launches namely Pulsar 200NS and KTM RC200.
Motorcycles (200-250cc)
This segment is a three sided battle among Pulsar & Avenger 220 from Bajaj,
Karizma from Hero and CBR 250R from Honda, all of which are strong and
popular brands. However, it's Bajaj which scores a convincing win over the
others. Despite the segment volumes declining by 6.34 per cent since FY12,
Bajaj has increased its market share from 57.29 to 67.87 percent. In absolute
terms, out of 137454 units sold in 2014, 93290 units belonged to Bajaj. Once a
marginal entity, the Avenger has now caught the fancy of urban Indians who
want to ride cruisers. In FY14, the company sold about 41,000 Avengers and its
demand has been increasing within a niche section of customers. Bajaj
commands a major share of the exports in this segment and represented 78.63
per cent of the volumes in FY14. However, being an upper segment the
volumes are comparatively low. On top of that, export volumes of the segment
have declined by 56.12 per cent and that of Bajaj have gone down by 64.09 per
cent in the span of two years.
Motorcycles (350-500cc)
Bajaj is a recent entrant in this segment with the KTM RC390 launch in 2014.
The good news here is that in the first year itself the bike has managed to
capture 15.85% of the market and it is expected to increase more by this year
end. With its trademark orange frame and alloy wheels, the KTM's have become
quite a rage among the youth in urban India. The rest of the segment belongs to
the Royal Enfield heavyweights. RC390 provides a sports bike body style in
this segment which otherwise has only street and cruiser bikes, hence offering a
new proposition to attract buyers. Bajaj has exported more KTM's than it has
sold in the domestic market and it has led to more than four-fold increase in the
export volumes of this segment.
TARGETING
Bajaj did the right move by targeting the youth of the India as in India 65 % of
the population is from 18-35.
Pulsar was the Bajaj first bike without Kawasaki label on it.
The bike was mainly targeting the male segment and known for its macho look.
POSITIONING
Bajaj has positioned Pulsar in the “high style and high price “category along
with the hero Honda Karizma, hero Honda CBZ, Royal Enfield.
Bajaj also positioned CT 100 in the “low style and low price “category along
with Herohonda Splender , TVS star city.
BRANDING
BRAND POSITIONING
Pulsar
Discover
Rebranding from Hamara Bajaj to Distinctly Ahead
Earlier Bajaj used “B” logo in a hexagon that was known for” Hamara Bajaj”
was replaced with a more attracting, stylish, vibrant, dynamic look moving from
the lower caps to upper caps which symbolize the
rejuvenated Bajaj auto ltd.
The change in the logo was the ongoing
change Bajaj has transformed its facilities like
manufacturing process, service and distribution
network, created its benchmark in research and
development activities. When customer has
changed in terms of quality and style then change
in the identity became the necessary change for the
Bajaj to invite the paradigm shift in the
consumer‟s perception regarding the company.
Bajaj pulsar joined hands with MTV India in the
year 2009 in order to launch pulsar MTV stunt
mania which was India‟s first ever bike stunt reality show. The main intention
of the Bajaj to target the youth of the India and MTV being the youth centric
for the excellent choice.
ADVERTISING STRATEGY
Bajaj is known for its outstanding ads because they don‟t use the brand
ambassadors in their ads which help the company to save lots of cost. Bajaj
used punch line like “Naye Bharat kin aye Tasveer “ added great value to its
two – wheeler product.
Recently ,Bajaj changed its logo and also changed its punch line “Hamara
Bajaj” which got converted to “inspiring confidence” the reason for the change
as told by the company officials was to keep pace with the new technologies in
the fast moving world to match with other competitor. Even though Bajaj has
changed its punch line which doesn‟t created much impact on the brand image
of the company. .
CHAPTER 06: OBESERVATION (SKILL ACQUIRED)
Bajaj Group believes that the true and full measure of growth, success and
progress lies beyond balance sheets or conventional economic indices. It is best
reflected in the difference that business and industry make to the lives of people.
Through its social investments, Bajaj Group addresses the needs of
communities residing in the vicinity of its facilities, taking sustainable
initiatives in the areas of health, education, environment conservation,
infrastructure and community development, and response to natural calamities.
For society, however, Bajaj is more than a corporate identity. It is a catalyst for
social empowerment. It is the reason behind the smiles that light up a million
faces.Its goodwill resonates in the two simple words that live in the collective
consciousness of Indians Hamara Bajaj.
The Corporate Social Responsibility (CSR) activities of Bajaj Group are guided
by the vision and philosophy of its Founder, late Shri Jamnalal Bajaj, who
embodied the concept of Trusteeship in business and common good, and laid
the foundation for ethical, value-based and transparent functioning.
EDUCATION:
The two flagship projects for Bajaj Auto have been the Bajaj Education
Initiative (BEI) and the e-Learning Project. The BEI covers 76 low cost
schools (a mix of private and government schools) in Pimpri-Chinchwad area of
Pune, and supports them with infrastructure development and capacity building.
The e-Learning project has reached more than 1550 schools till date- covering
Maharashtra and Rajasthan. Both of these are implemented by Jankidevi Bajaj
Gram Vikas Sanstha, our own NGO.
In addition Bajaj Auto has supported school infrastructure development,
vocational training for entrepreneurship, teach-to-lead as well as scholarships
for meritorious students.
Bajaj Auto is also supporting Bhartiya Yuva Shakti Trust (BYST) in training
25000 young persons in Aurangabad and Wardha to create 1000 entrepreneurs
in 5 years. Over 177 entrepreneurs have been created in first 2 years of the
project.
WOMEN’S EMPOWERMENT & SELF RELIANCE:
Bajaj Auto has supported IISER, one of India‟s leading research institutes, in
constructing a dedicated Hall of residence for Women Research Scholars. Bajaj
Auto has continued to support the Banasthali Vidyapeeth (a women‟s
university) in setting up a Hostel and a Bajaj center for Automation and Bajaj
Law School.
Bajaj Auto also supports the Kailash Satyarthi Children‟s Foundation in its
work on holistic development and empowerment of children.
SUPPORTING ARMED FORCES & VETERANS:
Bajaj Auto has contributed Rs 1 Crore to the Armed Forces Flag Day Fund.
RURAL DEVELOPMENT & OTHER PROJECTS:
Bajaj Auto has supported Sevagram Pratishthan at Wardha for renovation of
Bapu Kutir and associated buildings. Bajaj Auto has also initiated a partnership
with Raja Dinker Kelkar Museum at Pune for renovation of the museum.
Other supported organisations include Social Work Research Center - Barefoot
College(Tilonia), Development Initiative for Self-Help and Awakening –
DISHA (Pune), Chinmaya Organization for Rural Development (New Delhi),
Prafulla Dahanukar Arts Foundation (Mumbai) etc.
Bajaj Auto Has also supported Paraplegic Rehabilitation Center at Khadaki,
Pune, with 20 State of the Art wheelchairs.
CHAPTER 06: Coping with Changes
Bajaj Auto is the flagship company of the Bajaj Group of Companies. Bajaj
Auto Limited (BAL) is currently India's second largest two wheeler and three
wheeler manufacturer. The core competency of Bajaj Auto Ltd is its technology
and innovation. Both DTS-i (Digital Twin Spark Ignition) and DTS-Fi (Digital
Twin Spark Fuel Ignition) are technological breakthroughs by Bajaj. BAL is
also a pioneer in product innovation having introduced technologies such as
ExhausTEC (Exhaust Torque Expansion Chamber), LED Tail Lamps, LCD
Display, SNS, Spare parts (Tubeless tyres, rear disc brakes), Black colour
scheme etc.
Thus we observe that BAL which used to be a Defender in 1970-1990 through
Bajaj Chetak radically moved towards becoming an Analyzer (1990-1997) by
focussing on bike segments and has now become a Prospector (1997-date) with
several patents in its kitty and new bike launches every year. Therefore, for a
follower to move on and become a market leader it is essential that it focus on
innovation and consumer demand.
The re-branding exercise gone haywire
In the beginning of 2011, Bajaj decided to withdraw its family name from its
products and develop individual brands having their own identity. The rationale
behind this was since Bajaj group diversified into areas like electrical, finance
etc, having the family name would confuse the buyer what they actually stand
for. So basically, Bajaj had restructured itself from a branded house (many
products under an umbrella brand) to a house of brands (separate brands owned
by a parent). For exampleVolkswagen is a house of brands - Audi, Bentley,
Lamborghini function separately and do not carry VW badge anywhere. Though
aimed at reducing confusion the exercise seems to have created just that. The
brands now functioning independently are poaching into each other's territory.
Discover has stepped into Platina's segment, Pulsar has model in KTM' s space
etc. These overlaps create misunderstandings in terms of positioning resulting in
diluted brands and cannibalization of sales. Bajaj has seen its market share
decline since then.
Bajaj Auto has partnered iconic British motorcycle brand Triumph to produce mid-
capacity bikes for the Indian and overseas markets.
Engineers from Bajaj Auto and Triumph Motorcycles have been working on the
new motorcycles at the former‟s Chakan plant for some months. The no-equity
partnership will develop a range of mid-capacity 250-750cc motorcycles.
Product Award
2002-2003:
Product Award
Bajaj Boxer AT BBC World Wheels Award for Best Two Wheeler under
KTEC Rs 30,000
Bajaj Pulsar 150 BBC World Wheels Award for Best Two Wheeler between
DTS-i Rs 45,000 to Rs 55,000
Product Award
Bajaj Pulsar 180 BBC World Wheels Award for Best Two Wheeler between Rs
DTS-i 55,000 to Rs 70,000
Bajaj Pulsar 180 BBC World Wheels Viewers Choice Two Wheeler of the
DTS-i Year 2003
2003-2004:
Product Award
2004-2005:
Product Award
2005-2006:
2006-2007:
Product Award
2005-2006:
2006-2007:
Bajaj Auto, Waluj First prize for category "Productivity Thru Quality".
2008-2009:
Bajaj Discover DTS-Si Motorcycle of the Year - Bike upto 125 cc.
2009-2010:
2010-2013:
Pulsar 200 NS NDTV Car & Bike Two wheeler of the Year.
Pulsar 200 NS NDTV Car & Bike Motorcycle of the year upto 250cc
Pulsar 200 NS NDTV Car & Bike Automotive Design of the Year
2013-2016:
2009 (JANUARY):
Bajaj Pulsar 150 & Pulsar 180 upgrade launched.
2006 (APRIL):
Bajaj Platina launched.
2005(JUNE FEBRUARY):
Bajaj Discover launched
2004(AUGUSTMAYJANUARY):
Bajaj Discover DTS-i launched.
2001(JANUARY):
Bajaj Auto launches its latest offering in the premium bike segment
'Pulsar'.
2000:
The Bajaj Saffire is introduced.
1999:
Caliber motorcycle notches up 100,000 sales in record time of 12 months.
1997:
The Kawasaki Bajaj Boxer and the RE diesel Autorickshaw are
introduced.
1995:
Bajaj Auto is 50. Agreements signed with Kubota of Japan for the
development of diesel engines for three-wheelers and with Tokyo R&D for
ungeared Scooter and moped development. The Bajaj Super Excel is introduced
while Bajaj celebrates its ten millionth vehicle. One million vehicles were
produced and sold in this financial year.
1994:
The Bajaj Classic is introduced.
1991:
The Kawasaki Bajaj 4S Champion is introduced.
1990:
The Bajaj Sunny is introduced.
1986:
The Bajaj M-80 and the Kawasaki Bajaj KB100 motorcycles are
introduced. 500,000 vehicles produced and sold in a single financial year.
1985:
The Waluj plant inaugurated by the erstwhile President of India, Shri Giani
Zail Singh. Production commences at Waluj, Aurangabad in a record time of 16
months.
1984:
Foundation stone laid for the new Plant at Waluj, Aurangabad.
1981:
The Bajaj M-50 is introduced.
1977:
The Rear Engine Autorickshaw is introduced. Bajaj Auto achieves production
and sales of 100,000 vehicles in a single financial year.
1976:
The Bajaj Super is introduced.
1975:
BAL & Maharashtra Scooters Ltd. joint venture.
1972:
The Bajaj Chetak is introduced.
1971:
The three-wheeler goods carrier is introduced.
1970:
Bajaj Auto rolls out its 100,000th vehicle.
1960:
Bajaj Auto becomes a public limited company.Bhoomi Poojan of Akurdi
Plant.
1959:
Bajaj Auto obtains licence from the Government of India to manufacture two-
and three-wheelers.
1948:
Sales in India commence by importing two- and three-wheelers.
1945:
Bajaj Auto comes into existence asM/s Bachraj Trading Corporation Private
Limited.
SWOT ANALYSIS
Strength
Kannan motors bajaj is giving employment around 200 employees.
Strong market presence
Develop rural area to reach at the global position.
Weakness
Irregularity in time cost.
Kannan motors bajaj entered late in the market
Opportunity
Rapidly and continuous growth in the market, so company will th ink about
expansion.
Threat
Highly competitive market against imported vitrified tiles.
CHAPTER 6. CHRONOLOGICAL DIARY
MANAGERIAL SKILL
DATE DEPARTMENTS DETAIL
ACQUIRED/ DEVELOPMENT
ROAD
24.05.19 MARKETING HOW TO ROAD ADVERTISEMENT
ADVERTISEMENT
25.05.19 MARKETING CLIENT MEETING HOW TO CLIENT MEET
TRAVELLING FOR
27.05.19 SALES HOW TO FOLLOW CUSTOMER TRAVELLING
CUSTOMER FOLLOW
28.05.19 MARKETING BIT NOTICES HOW TO BIT NOTICES CUSTOMER
The study undertaken has brought in to the light of the following conclusions. According to this project
I came to know that from the analysis of overall department function, it is clear that KANNAN MOTORS
BAJAJ. The company’s overall position is at a good position .Particularly the sales and service department
position is well due to raise in the profit level from of the company. It shows “BEST SERVICE FOR BAJAJ
BIKES”.