India Yamaha Motor sold 8.04 lakh two-wheelers in FY2019, marking a growth of 1.5% over the previous fiscal. The growth numbers delivered by the Indian arm of the Japanese two-wheeler brand are lower than the industry’s 4.86% growth rate.
With an aim to increase its market share, Yamaha Motor India will expand its product portfolio. The company will launch a global scooter as well as several new sports motorcycles, reports Moneycontrol. The upcoming scooter will be powered by a 125 cc or bigger engine. Speaking to Moneycontrol, a senior executive of India Yamaha Motor said:
India volumes did not rise as per our expectations because the models we have are powered by smaller displacement engines in the scooter segment as compared to the competition. We ended up losing market share. We need to understand what our strengths are and how we can use them to win in India. We should know what is expected from the Yamaha brand. We will rebuild the business base and branding in this market. And we will develop the Yamaha network by using land mobility as our strength to develop new areas.
India Yamaha Motor aims to sell 1.2 million units and export 3.28 lakh units by 2021. Speaking about these targets, the Yamaha executive said:
We will fully utilise our plant capacity in order to sell 1.2 million units in the domestic market and 1.5 million overall. We will reinforce our competitiveness in the scooter segment by launching a global platform. We aim to create land mobility synergies including alliance opportunities.