Japanese car foremost Yamaha Motor India, which targets to grow its marketplace proportion from five% to twelve% in around a 12 month, is banking on the top rate motorbike phase for its increase. The organization on Friday added MT 15; it’s one hundred fifty cc engine motorbike. The enterprise closing 12 months sold round 7. Nine lakh devices and is seeking to take the also discern as much as nine — thirteen lakh units.
Speaking to DNA Money on the sidelines of the MT 15 launch, ultimate week, Ravinder Singh, senior VP (strategy & planning) Yamaha Motor stated the premium motorcycles segment grew with the aid of 8.5% for the agency at some point of the current yr, while its scooter section grew with the assistance of five%.
Us of an’s -wheeler marketplace has visible the access of numerous top rate motorcycle corporations in the past few years. While Royal Enfield has a lion’s percentage inside the phase, nearly all other existing and new players are vying tough for the distance which include- Bajaj Auto and Hero MotoCorp, who are majorly within the mass phase, are also looking to create a separate area of interest for their top rate brands with several launches expected within the coming years. Similarly, Mahindra & Mahindra (M&M) thru its subsidiary brand Jawa has been attracting a whole lot of attention. The top class motorbike section is commonly defined as a bike with engine capacity of one hundred fifty cc and above, costing over Rs 1.25 lakh. As consistent with an industry estimate, India’s top class motorcycle marketplace is predicted to the touch $161 million by way of 2023.
According to vehicle manufacturers, the premium section affords higher margins of profitability. Though the volumes are currently low, it’s far set to grow in the coming years resulting from increased purchasing capacity of clients, better aspirations, and so on. India is amongst the top dealers of two-wheelers with over 20 million gadgets being bought annually.
Data to be had with the Society of Indian Automobile Manufacturers (SIAM), indicates that inside the top rate segment, bikes with an engine potential of 250-800 cc have been striding in advance, even though on a decreasing base.
According to senior executives of Yamaha Motor, the corporation after now not finding much achievement in the mass segment decided to cognizance at the top rate section by 2007. The agency has invested around Rs 1,500 crore in the beyond five years which became mainly for capacity enlargement. “Another Rs a hundred crore is in all likelihood to be invested within the contemporary year, an enormous part of, to be used for marketing and promotions,” Singh stated.
Yamaha Motor initially entered the Indian marketplace in 1985 and later in 2008 were given into a settlement with Mitsui & Co Ltd for joint investments. The agency has production facilities in Faridabad, Surajpur, and Chennai. Though the organization presently has a manufacturing capacity of about 1.7 million units that’s enough for the following couple of years, it has plans to take it to 2.5 million gadgets by 2023.