HomeAutoYamaha Motors looks for 10 percent market share in the Indian two-wheeler segment

Yamaha Motors looks for 10 percent market share in the Indian two-wheeler segment

Reader's Pick

With an eye on garnering 10 percent of the two-wheeler market in India in the next five years, Japan’s Yamaha has started studying plans to add additional capacities here, according to a top company official.

Yamaha, which currently has an annual production capacity of 1.7 million units, is looking at 2.5 million units by around 2023.

“Our aim is to have a total of 10 percent market share across the two-wheelers segment in India in the next five years, up from the current 4 percent,” Yamaha Motor India group of companies Chairman Motofumi Shitara told PTI in an interview.

In the premium sports motorcycle segment, the company already has 10 percent market share in India, he added.

- Advertisement -

In the April-February period of the ongoing fiscal, the company sold 7,32,006 units in the domestic market, up 0.7 percent from the year-ago period.

The Indian two-wheeler market stood at 1,97,40,727 units during the period.

When asked about the company’s future production plans, Shitara said Yamaha would need additional capacities in order to meet its mid-term target. “For the next two years we will have enough capacity but beyond that we will need extra capacity,” he said.

When asked if the company would set up a fresh plant or expand existing facilities, he said, “we have not decided on that. We’ve started studying on what can be done,” Shitara added.

- Advertisement -

Yamaha currently has two plants, one at Greater Noida in the National Capital Region and one in Chennai.

Bullish on India, he said the rising income keeping pace with the country’s economic development makes this an attractive market for the future.

He, however, said both in motorcycle and scooter segment Yamaha would play in the premium, fun to drive segment and avoid the mass commuter category.

Asked if Yamaha has plans for entering electric two-wheeler segment in India, he said, it would depend on how the supporting infrastructure for such vehicles develop in India, although the company is already working at global level on electric two-wheelers to be sold worldwide.

“Even if we enter the electric two-wheeler segment in India it will not be in the mass segment. We will ensure Yamaha ideology of fun to drive in our electric two-wheelers as well,” Shitara said.

close

Stay on top of Budget 2023 with our newsletter

We don’t spam! Read our privacy policy for more info.

close

Stay on top of Budget 2023 with our newsletter

We don’t spam! Read our privacy policy for more info.

- Advertisement -

Read latest Business News and Startup news on TechGraph. Watch live and latest news on TechGraph TV. Follow us on Facebook or follow us on Twitter and Instagram. Listen audio news from TechGraph Briefings on Spotify, Google Podcast, Amazon Music & on Apple Podcast.
 

Krishna Mali
Krishna Mali
Founder & Editor of TechGraph.

Latest News

Promoted Links

Related Stories

Sino-US trade war offers Europe’s chance to bank more Chinese reserves: Analysis

Should European countries want the euro to replace the dollar as the world's do...

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($2...

1Win App: Review India Apk for Android and iOS

The company 1Win has been successfully operating in the markets of many countri...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sou...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the firs...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rah...

NASA astronauts to carry first ever all-female spacewalk on 29 March

Two NASA astronauts are scheduled to carry out the first ever all-female spacew...

Budget 2023 Wishlist: Expectations from Bikanervala, CEF Group & Indian Auto LPG Coalition

The upcoming budget for 2023-24 has sparked interest and anticipation among dif...

Telecom sector has high expectations from the 2023 budget: Gaurav Gandhi, CEO of Echelon Edge

Speaking on the Union Budget 2023 expectations, Gaurav Gandhi, Founder & CE...

Union Budget 2023: What Are the Pre-Budget Expectations for the FinTech and Digital Lending Sector?

As the poster child of India’s digital growth story, the FinTech sector is pois...