Calcutta, March 7: Bajaj Auto is looking to sell around 50,000 units of its latest 150cc "V" bikes in the country in the next 12-18 months.

The two-wheeler major hopes that a recovery in rural demand will reverse the downward trend in production and sales of bikes seen in the first 10 months of this fiscal.

According to industry body Siam, output and domestic sales of motorcycles between April 2015 and January 2016 fell 3.19 per cent and 2.18 per cent, respectively, over the same period a year ago. However, overall two-wheeler sales increased 1.35 per cent with scooters growing 11 per cent.

"We are hopeful of an improvement in rural demand. Some of the announcements in the budget could stimulate rural demand, which augurs well for the two-wheeler market," said Sumeet Narang, vice-president (marketing) of the motorcycle division of Bajaj Auto.

He added that the company's unique marketing strategy could also help to improve growth in different sub-segments of the motorcycle market.

For instance, the Bajaj V contains scrap metal from decommissioned aircraft carrier INS Vikrant. "It was a national symbol. So we were exploring ways to immortalise it," Narang said on the sidelines of the launch of the bike here today. The bike is priced at Rs 64,498, ex-showroom Calcutta. The company has placed a booking window between March 10 and March 20 with deliveries on March 23.

"Bengal is a growing market with a major demand for executive commuter bikes. At this price, the V will offer an attractive upgrade for customers in the 100cc and 125cc segments," Narang said.

Initially, the 150cc version of the bike will be available. The company may evaluate expanding the brand to other segments depending on the response it gets.

Some of the company's major launches include the new CT 100, refreshed version of the Avenger and Pulsar RS 200.