Yamaha Motors targeting 10 percent market share in IndiaDecember 16th, 2008 - 5:36 pm ICT by IANS
Kolkata, Dec 16 (IANS) World’s second Largest motorcycle manufacturer Yamaha Motors has set a target to increase its market share to 10 percent in India by the next two-three years, a top official said here Tuesday. “We’re not satisfied with our present Indian market share of three percent. We are working hard in terms of technological upgradation, bringing out new variants and increasing dealership to reach the target of 10 percent,” Yutaka Terada, group head (dealer development and planning and marketing activities) Yamaha Motors India Sales Ltd, told reporters.
He was here to inaugurate Yamaha’s first company-owned showroom in the city. Countrywide, this is Yamaha’s fifth such showroom.
Now the company has around 20 percent market share internationally.
“We have 430 dealers in India, out of which 100 were added this year only,” he said, adding: “We are now concentrating on strengthening our marketing strategy.”
This year, the company has started an auto-finance arm Bussan Auto Finance along with Axis Bank and Mitsui and Co. Ltd.
The joint venture company is financing customers at an interest rate of 13 percent.
The company sold around 120,000 bikes in India in 2007.
For this fiscal, the sales target is 140,000 units.