Japanese two-wheeler maker Suzuki Motorcycles, which had “got on the wrong bus all these years , is betting big on India now with a strategy to double the market share to 10 percent with 1-million volume by 2020. Also Read - FIR filed against Twitter India again, now over child pornography contentAlso Read - Mi Notebook Pro X to be Xiaomi's most expensive laptop yet, launch tomorrow
Suzuki Motorcycle India is the largest market for the parent Suzuki Corporation and currently, enjoys only about 5 percent share in the over 17 million units a year domestic two-wheeler market dominated by Hero Motorcorp and its co-patriot Honda who between them eat up close to 70 percent of the market pie.
In overall two-wheeler market, however, the company has only 2.5 percent market share. In the scooter and above 150 cc bike segment, it enjoys the market share of five percent. ALSO READ: Suzuki Motorcycle India sells record 50,785 units in September
Like its sister concern, Maruti Suzuki that enjoys over 50 percent of the domestic car market, even with such a low volume, India is the largest market for the group. In 2016 Suzuki managed to sell about 3.5 lakh units and expects vroom past 40 percent in sales this year to around 5 lakh, and 7 lakh next year and 1 million in 2020, each year clocking over 40 percent volume growth or so, says Satoshi Uchida, its managing director who took over the mantle in April 2016.
“Yes, we have not been consistent with our product and communication strategy. In fact, we didn’t have enough products in mass market so far. I think we had got into the wrong bus here in India but now we are on the right bus and on the right route,” Uchida told when asked whether they had lost the India bus all these years.