Japanese car foremost Yamaha Motor India, which targets to grow its market share from five % to twelve % in around 12 months, is banking on the top rate motorcycle segment for its growth. The organization on Friday added MT 15; it’s a cc engine motorbike. The enterprise closing 12 months ago sold around 7. Nine lakh devices seek to take the market also as much as nine — thirteen lakh units.
Speaking to DNA Money on the sidelines of the MT 15 launch, last 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 during the current year. In contrast, its scooter section grew by five assistance of five.
Use of an ”s-s-wheeler marketplace has visible access to 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 includes- 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), through its subsidiary brand Jawa, has been attracting a lot of attention. The top-class motorbike section is commonly defined as a bike with an 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 touch $161 million by way of 2023.
According to vehicle manufacturers, the premium section affords higher margins of profitability. India is amongst the top dealers of two-wheelers, with over 20 million units being bought annually. 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.,
Data to be had with the Society of Indian Automobile Manufacturers (SIAM) indicates that within the top rate segment, bikes with an engine capacity of 250-800 cc have been striding in advance, even though on a decreasing basis.
According to senior executives of Yamaha Motor, the corporation, after not finding much success in the mass segment, decided to cognizance on the high-end segment by 2007. The agency has invested around Rs 1,500 crore beyond five years which became mainly for capacity enlargement. “Another Rs a hundred crore is in all likelihood to be invested within the current year, a large part of, to be used for marketing and promotions,” Singh stated.
Yamaha Motor initially entered the Indian marketplace in 1985 and later in 2008 entered 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, which is enough for the following couple of years, it has plans to take it to 2.5 million units by 2023.
