Two wheeler maker India Yamaha Motor which today entered the scooter segment with the launch of Ray said aims to capture 20 percent market share in the new segment by 2016.
“We made an announcement to build a new factory in Chennai and plan to start this new factory from January 2014. With this capacity expansion,we are targeting to achieve 1 million units sales by 2014. We will expand our total capacity further in the long-term. We are planning to expand our sales to 2 million units by 2016 and to 2.8 million units by 2018,” India Yamaha Motor chief executive and managing director Hiroyuki Suzuki said in a statement issued here.
The subsidiary of the Japanese auto firm today launched its scooter Ray targeted at college students and young working women.
The scooter category,which accounted for about 11 percent of total demand at approximately 9,00,000 units in 2006,has grown rapidly over the last five years to reach about 18 percent of total market at around 2.4 million units in 2011,the release added.