Exploring Yamaha's 700cc Motorcycle Offerings in India: Yamaha is set to introduce a formidable motorcycle in the 700cc category, poised to captivate the younger demographic. Despite obstacles such as a significant semiconductor shortage, the company sustained its momentum in 2022, selling 550,000 units. Yamaha's triumph continued into 2023, achieving sales of 640,000 units.
What was the company's statement?
Yamaha Motor, a leading two-wheeler manufacturer in India, is gearing up to concentrate on premium segment motorcycles in the coming years, aiming to provide users with high-performance biking experiences. This strategic shift has been confirmed by Yamaha itself, indicating plans to expand its portfolio in the 700cc bike segment. Ravinder Singh, Senior Vice President of Sales) at Yamaha Motor India, stated, "While we're unable to divulge specifics about the forthcoming models at this moment, we can affirm that the company's primary focus will be on the premium segment."
The objective is to appeal to younger demographics.
Ravinder Singh emphasized that Yamaha will maintain its presence in the 149cc to 155cc range while also venturing into higher ranges to cater to the preferences of young Indian riders, prioritizing bikes that offer exceptional performance and rider experiences. Notably, Yamaha successfully introduced the R3 and MT-03 models in the 300cc category in December 2023. Building on this success, the company intends to enrich its lineup with new offerings in the 700cc segment, bolstering its product portfolio. Singh further outlined the company's objective of satisfying both existing users seeking upgrades and new customers desiring sporty and stylish bikes. As part of this strategy, Yamaha plans to launch the YZF R7 and MT-07 models in India over the next few years, marking its entry into the 700cc segment.
The company aims to captivate the youth demographic by aligning with prevailing trends in India's premium motorcycle segment. Recent years have witnessed significant shifts, with a notable emphasis on delivering fresh and exhilarating experiences. Today's youth seek novel models boasting superior performance, cutting-edge technology, and striking design elements. This evolving landscape has led to a sustained demand within the premium segment. Yamaha's target is clear: they intend to appeal to both urban and semi-urban markets, focusing on customers aged 18 to 25 years old.
The company aims to boost its market share.
The company's objective is to enhance its market share. Despite facing challenges such as a severe semiconductor shortage, Yamaha achieved remarkable growth in 2022, selling 550,000 units. This success continued into 2023, with sales reaching 640,000 units. Notably, Yamaha's market share in the premium segment rose from 10 percent in 2019 to 15 percent in 2023. Looking ahead, the company aims further to bolster its market share to 17.2 per cent this year.
In conclusion, Yamaha's strategic focus on premium motorcycles, including its expansion into the 700cc segment, reflects its commitment to attracting younger demographics and increasing its market share. Despite challenges like semiconductor shortages, its sales growth and market expansion goals signal a promising trajectory for the company's future.
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