Suzuki Motorcycles eyes 1 million volume by 2020, double market share
Japanese two-wheeler maker Suzuki Motorcycles, which had "got into the wrong bus all these years" is betting big on India now with a strategy to double the market share to 10 per cent with 1-million volume by 2020.
Suzuki Motorcycle India is the largest market for the parent Suzuki Corporation and currently enjoys only about 5 per cent share in the over 17 million units a year domestic twowheeler market dominated by Hero Motorcorp and its co-patriot Honda who between them eat up close to 70 per cent of the market pie.
Like its sister concern, Maruti Suzuki that enjoys over 50 per cent of the domestic car market, even with such a low volume, India is the largest market for the group.
In 2016 Suzuki managed to sell about 3.5 lakh units and expects vroom past 40 per cent in sales this year to around 5 lakh, and 7 lakh next year and 1 million in 2020, each year clocking over 40 per cent volume growth or so, says Satoshi Uchida, its managing director who took over the mantle in April 2016.
"Yes, we have not been consistent with our product and communication strategy. In fact we didn't have enough products in mass market so far. I think we had got into the wrong bus here in India but now we are in the right bus and on the right route," Uchida told
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
IPL Auction 2025 Free Live Streaming: When and where to watch Indian Premier League 2025 mega auction live online, on TV, Mobile Apps, and Laptop?
SIP vs PPF: How much corpus you can build in 15 years by investing Rs 1.5 lakh per year? Understand through calculations
SBI Senior Citizen Latest FD Rates: What senior citizens can get on Rs 7 lakh, Rs 14 lakh, and Rs 21 lakh investments in Amrit Vrishti, 1-, 3-, and 5-year fixed deposits
04:22 PM IST