Two-wheeler manufacturer Yamaha Motor India is eyeing to sell 6.50 lakh units in the domestic market in 2020 and has set a target of doubling its market share by 2025, a top official said here on Thursday.
The company has sold 6.24 lakh units in 2019, Yamaha Motor India Sales Pvt Ltd, Senior Vice-President, Strategy and Planning Group, Ravinder Singh said.
The company as part of strengthening its presence in scooter segment unveiled Fascino 125FI, RayZR 125FI and Street Rally 125FI marking the company's entry into the 125cc segment.
Currently the 125cc segment comprises Activa 125cc from Honda Motorcycles and Scooters India, NTORQ from TVS Motor and Access125 from Suzuki Motorcycle.
Besides the scooters, the company also unveiled BSVI compliant motorcycles MT15 and R 15 at an event here.
Recently, it unveiled 150cc FZ-S in complying to BSVI norms.
Talking to reporters, Singh said the company has set a target to double its market share in the overall two-wheeler segment by 2025.
"Currently we are having about 5 per cent market share. We are targeting 10 per cent overall by 2025," he said.
On the exports front, he said the company was shipping 2.94 lakh units in 2019 and plans to increase it to 3.15 lakh units in 2020.
On the launch of 125cc scooters, Singh said the company would gradually phase out existing 110cc models and would only sell 125cc models in future.
To a query, he said the company invested about Rs 1,500 crore and for launch of BSVI complying motorcycles and scooters it allocated about Rs 14 crore.
Fascino 125FI is priced from Rs 66,430 to Rs 67,430 (ex-showroom).
Singh said the company would release the price of other scooters RayZR 125FI and Street Rally 125FI and also the BSVI compliant premium motorcycle MT15 'soon'.
The BSVI variant R15 Version 3.0 motorcycle has been priced from Rs 1.45 lakh and goes upto Rs 1.47 lakh.
Company officials claimed that the new Fascino 125FI offers 30 per cent more power output, 16 per cent higher fuel economy compared to the existing model.
Yamaha Motor India Chairman Motofumi Shitara, noted music composer Anirudh Ravichander formally unveiled the BSVI variant scooters on the occasion.
Singh said the company would upgrade the dealership network to 'Blue Square' a premium concept showroom as part of its strategy.
"Right now, we are having one Blue Square showroom in Chennai, one more will be added up later (in Chennai). We are planning to have around 100 Blue Square networks across India", Singh said.
The company currently has 593 dealership networks across the country.