Hyderabad, Sept 14 (IBNS): Bollywood actress Deepika Padukone unveiled India Yamaha Motor's stylish scooter- Ray- in Hyderabad on Friday.
With Ray, the company formally announced its entry into the rapidly growing Indian scooter segment.
Ray is the first Yamaha model to enter India's scooter segment and is strategically positioned to expand its share in the Indian market.
With the addition of the scooter Ray in its portfolio, India Yamaha motor is looking at a market share of 20% in the scooter segment by 2016.
Ray is equipped with an air-cooled 4-stroke 113cc engine with CVT (Continuous variable transmission).
At the launch, Hiroyuki Yanagi, President and CEO of Yamaha Motor Co. Ltd., said: "By 2018, our total production capacity in India will reach 2.8 million units. At that point, India will play an extremely important role among Yamaha group, not just in supplying to the Indian domestic market but also in exporting to other markets around the world.
"We will be working aggressively to transfer our latest technologies to India in the hope of making every contribution we can to the development of India's two-wheeler industry."
Speaking on the occasion, Hiroyuki Suzuki, CEO & MD, India Yamaha Motor Pvt. Ltd. said, "We made an announcement to build a new factory in Chennai. We are planning to start this new factory from 2014 January."
"With this production capacity expansion, we are targeting to achieve 1 million units sales in 2014. We will expand our total production capacity further in the long term. We are planning to expand our sales to 2 million units in 2016 and 2.8 million units in 2018," he added.
The company has started a new assembly line for scooters which is run entirely by women employees.
The company has also developed a riding training program for female customers.
The riding training program is named as Yamaha Female Riding Training program and will be implemented across India.
This model will be manufactured and marketed by Yamaha Motor group company India Yamaha Motor Pvt. Ltd. (IYM) and will be available in Plush Pink, Purple Pastel, Shining Blue, Burgundy Bliss, Grey Grandeur and Black Star colors. It will be priced at Rs 46,000 (Ex-showroom Delhi).
The Indian motorcycle market has a current annual demand of approximately 13 million units (Yamaha Motor survey, 2011 results) and, with factors like continuous strong consumer spending and population growth, this demand is expected to surpass China's within 2012 to make India the world's largest motorcycle market.
Within this market, the scooter category, which accounted for about 11% of total demand at approximately 900,000 units in 2006, has grown rapidly over the last five years to reach about 18% of total demand at roughly 2.4 million units in 2011.
Deepika Padukone unveils Yamaha scooter
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