India is headed towards becoming the largest market for Yamaha Motorcycles by 2020. The Japanese motorcycle company’s Chief Executive said the reason for this is the suffering economies of its other large international markets. In fact, Yamaha wants to sell one million units, in 2016, in India.
We are currently the third largest market for the company worldwide, with sales of more than eight lakh two-wheelers last year, including exports. Yamaha, Chief Executive, Hiroyuki Yanagi said, "We are selling roughly six million units in the world. We are targeting to make one million this year in India including domestic and exports. This year, Vietnam and India will be very close." Currently, India falls just behind Vietnam and Indonesia for the company.
Yamaha sold more than two million units in Indonesia last year. Vietnam was a distant second with local sales of around eight lakh units. "The Indonesian market is still slow because of many reasons. India could be the largest market by 2020, or even before 2020," he added.
The Japanese company also wishes to double local production numbers by 2020. Yamaha is now targeting the entry-level market in India with its latest launch, the Saluto RX. Read more about it here.
Source - ETAuto
