India Expecting New Models Of Scooters And Motorbikes From Suzuki Annually
Suzuki Motorcycles is a well-known maker of two-wheeled vehicles from Japan. The company is now investing huge in India after it has decided to come up with strategies that will double the current market in the country. They are targeting to increase the volume for Suzuki motorcycle dealers by 1 million in 2020 and shares will go up 10 per cent. The parent company, Suzuki Corporation, recognized that their biggest market belongs to Suzuki Motorcycle in India. The brand only makes up 5 per cent of the total shares in the motorcycle industry in the country. As a whole, there are more than 17 million units of motorbikes and scooters sold in India every year.
The current leading brands for two-wheelers in the country are Hero MotoCorp and Honda, which is a fellow patriot. These two brands alone make up almost 70 per cent of the total shares in the market. In the entire market for two-wheeled vehicles, Suzuki only brings home 2.5 per cent of the shares in the market but in terms of scooter and bikes that have a capacity of over 150 cc, the market share of the company reaches up to 5 per cent.
According to the executive vice president of Suzuki Motorcycles in India, SajeevRajasekharan, they have seen the actual volumes they have in the country and they believe that there is room for improvement such as offering more options for the consumers.
As a measure, the company is planning to launch a minimum of two models of scooters and bikes in India annually. Currently they are banking on scooters because it brings the biggest gross in volume. For bikes, they will be bringing in models with engine capacity of at least 150 cc.
The sister company, Maruti Suzuki, makes up half of the share in the domestic market when it comes to cars despite the fact that they are selling low volumes. The company still recognizes that India is currently their biggest market.
They are confident that their strategy will help them reach their goals and Suzuki motorcycle dealers in the country will be able to have a booming business.