Japanese two-wheeler maker Suzuki Motorcycle, which today unveiled two new products – a scooter and a motorcycle – announced it will launch two more products in the country this calendar year to increase its market share in the world’s second-largest market for two-wheelers. .
The company currently commands 16% of the pie in the home scooter space, while it is only 1% in the motorcycle segment.
The company also hired Bollywood actress Parineeti Chopra to endorse its new Let’S ‘scooter model, while superstar Salman Khan, who has endorsed the Japanese company’s bikes for the past two years, unveiled the new bike. Gixxer.
“We are rolling out four new products this calendar year, including the two unveiled today. The new scooter model will launch next month and the bike will hit the road by July,” said Atul, executive vice president of Suzuki Motorcycle India (SMIL). Gupta said here.
SMIL is the wholly owned subsidiary of Suzuki Motor Corporation of Japan.
Gupta, however, did not disclose the pricing of the two new offers, adding, “The prices will be announced at the next Greater Noida Auto Show and they will be very, very competitive.”
The 110 cc scooter belongs to the personal segment, while the 155 cc bike is a premium bike in the luxury segment, he said.
Forecasting stable growth for the two-wheeler industry in the current fiscal year, Gupta said entry of new players intensifies competition, adding that scooter volumes are the only silver lining for the industry. .
Stating that a good mix of product and distribution were the main challenges for SMIL, Gupta said that over the next 12-18 months, the company will focus on consolidating its presence by tackling these issues.
“We have to go a long way before we get closer to the main players. We are still not present in the 75% of the market and our share only comes from the 25% of the market that we cover. So that way we are quite in those markets, ”Gupta said.
“Also, we still don’t have a lot of products and their variations. So we try to get as many products and their variations to get closer to the competition,” he said.
The company’s sales in India grew more than 10% month-on-month in 2013 thanks to improved production capacity and deeper market penetration.
Gupta also said that to improve its reach in more markets, SMIL will increase the number of its dealers from 300 to 400 currently, in addition to increasing the number of touchpoints to 1,000 from 600 in this calendar year.