Undeterred by the slump in the automobile market, two-wheeler manufacturers India Yamaha and Bajaj Auto aim to post decent sales this financial year, buoyed by their strong performance in November.
While Japanese two-wheeler manufacturer India Yamaha aims to sell 480,000 units this year, rival Bajaj Auto plans to post sales of four million units this fiscal.
India Yamaha Motor Director-Sales and Marketing Jun Nakata said the company plans to sell over 480,000 lakh units this year and aims to garner a 10% market share in the next few years.
"We are looking to sell 480,000 lakh motorcycles this fiscal and are looking to achieve an overall 10% market share over the next few years," India Yamaha Motor Director (Sales and Marketing) Jun Nakata told PTI.
In November, India Yamaha reported a 29.20% increase in total sales to 39,162 units. The company had sold 30,310 units in the same month last year.
Sales in the domestic market grew by 24.08% during the month, with the company selling 28,178 units, as against 22,710 units in the corresponding period last year.
There was good news on the export front too for India Yamaha, with a whopping 44.53% jump in sales to 10,984 units during the month from 7,600 units a year ago.
Asked about the sluggish automobile market conditions, Nakata said the company has not been greatly affected. "We have none or very less impact so far. We expect growth be around 15% in the industry," he said.
Auto analysts said increasing fuel prices and high interest rates prompt many buyers to go for two-wheelers instead cars. However, there could be an impact on sales of high-performance bikes in the above 150-cc category, they said.
Nakata, however, struck a positive note, asserting that sales for India Yamaha, including premium segment products, would remain at the same level.
Bajaj Auto General Manager, Marketing and Sales, Chandrashekar told PTI that the company expects to sell over four million units this fiscal.
"The impact in the passenger car business is because of various reasons, including interest rates and fuel prices.If a car owner feels the pinch, then two-wheelers always come as an option," he said.
He reiterated that the two-wheeler industry was growing at 13-15% year-on-year.
In November, Bajaj Auto registered a 25% jump in motorcycle sales to 3,31,967 units. The company had sold 2,65,036 units in the corresponding month last year.
Total sales in November stood at 3,74,477 units, up by 25% from 2,99,231 units in the same period a year ago.