CHENNAI: Yamaha Motor India is confident that it will be able to double its market share in India over the next five years. According to top officials, the pandemic has not changed the company’s plan to achieve a 10 per cent market share in India by 2025. It currently has a market share is 3.9 per cent.
According to Ravinder Singh, senior vice president, Yamaha Motor India Sales, the company’s strategy to increase its market share is to create more exciting experiences for customers through sporty and stylish models. “In 2021, the company will be maximizing its reach to the potential customers more through digital platforms and various retail initiatives in order to keep pace with the return of economic activity,” Singh added.
He said that the pandemic and the subsequent lockdown had led to a huge retail loss and disrupted supply chains across the two-wheeler industry. However, since July, Yamaha has been witnessing an uptick in demand and Singh noted that they expected better sales during the ongoing festive season.
“Yamaha’s first effort had been in meticulously evaluating the retail ecosystem which is the lifeblood to any business. We stayed electronically connected even with the most remote employee and which helped us to complete a thorough evaluation of stocks and inventory, along with setting monitoring strategies that were implemented as soon as the restrictions were relaxed.
Alternatively, we had prepared to digitally connect with all customers with the help of social media and internet-based services,” he said. Singh also believes that the two-wheeler industry will be aided by physical distancing norms, which may provide an additional impetus to personal vehicles. “Manufacturers must have realized by now the potential market..,” he said.