Auto giant Yamaha Motors India is eyeing the scooter segment in India which has registered a rapid growth in the past five years. The company has marked a growth from 9 lakhs units in 2006 to 24 lakh units in 2011.
To aim high in the Indian market the company has launched its two wheeler Ray on September 14, 2012 in Hyderabad. Hiroyuki Suzuki, the IYM CEO and MD said, “The scooter segment is growing rapidly here. We aim to sell 60,000 units of Ray this year and in the next year our target is to sell 2.5 lakh units. We will also come up with new models in this segment in future.”
Roy Kurian, the IYM’s national business head said, “The scooter business is expected to contribute 50 per cent of our revenue in the next two years.” Yamaha India aims to sell 10 lakh units by the year 2014 and subsequently touch 28 lakh by 2018.
At present the company holds a three percent market share and with the launch of Ray, the IYM aims to corner 20 percent of the market share in the two wheeler segment. The company has also opened a new facility in Chennai which was announced in the month of May. The plant is expected to be operational from January 2014.
