Japanese auto major Yamaha Motors is eyeing 10 per cent of market share in the scooter segment in the next five years. The company on Wednesday unveiled a new scooter, Cygnus Ray-ZR, for the Indian market at the 13th edition of the Auto Expo here.
“India has the world's largest two-wheeler market with a total annual demand of approximately 16 million units . Out of the total demand, the scooter segment constitutes 27 per cent of the market, and is growing further year by year. Since 2012, Yamaha Motor has been introducing a range of scooters - including RAY, RAY Z and Alpha - and has been increasing its customer base in the Indian market. Fascino has further expanded sales in the scooter category, which is expected to grow further, especially among the youth who have a keen interest in current fashion and trends,” said Yamaha Motor India Sales Pvt ltd VP-Sales & Marketing Roy Kurian
“With this Cygnus Ray-ZR, which will be launched in the next two months, and other products, we hope to corner 10 per cent of market share in the scooter segment even before the next five years,” added Kurian.
The Cygnus Ray-ZR is developed around a concept of 'a next generation real man's scooter'.
The scooter with a fresh look is powered by an air-cooled 4-stroke, SOHC, 2-Value 113cc blue core engine with a continuously variable transmission unit.
The main features of the scooter include an engine with high combustion efficiency. Besides, the disk brake version features cast aluminium wheels. It will also have an another variant with drum brakes.
“India is a very important market for Yamaha and we will continue to invest in innovation and expansion,” said Masaki Asano Managing Director of Yamaha Motors India Sales Pvt ltd.
Indian scooter market is going through a great phase, constituting almost 30 per cent of the two-wheeler market and Yamaha is committed towards offering its customers a perfect mix of style and technology, he added.
Kurian said 2015 was a “highly successful year” for Yamaha as it witnessed 5 per cent growth rate, despite a sluggish market.
In the domestic market, the company sold 5.94 lakh units of two wheelers in 2015 and aims to increase it to 8 lakh units this year, he added.