Yamaha hits hat-trick in hike in sales, expects festive period to build momentum
Yamaha Motor India on Tuesday announced it has seen a hike in sales for three consecutive months and that it saw a year-on-year growth in sales of around 17% in the month of September. With the festive period around the corner, the company expects to make the most of this momentum and build on sales figures.
Yamaha sold a total of 63,052 units in September, up from 53,727 units in the same month of last year. While Covid-19-related challenges, the nation-wide lockdown in particular, posed a massive challenge to the company and the auto industry as a whole, Yamaha reports that the easing of restrictions has helped it get back to top gear and the past three months have seen an uptick in sales. It further informed that its year-on-year growth in July of 2020 was 4.3% and 14.8% in August when compared to same time periods of 2019.
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And while things may be looking up, the overall prospects remains shrouded with Yamaha previously stating that its sales in India in 2020 could be the lowest in a decade. "Yamaha expects demand to gradually grow, although the total sales volume for the year 2020 will remain the lowest in a decade," Yamaha Motor India Sales (YMIS) Senior Vice President Ravinder Singh had told news agency PTI. (Read more here)
On the flipside, Yamaha also expects to corner 10% market share in India by 2025. "Yamaha’s mid-term target is to increase market share to 10% in 2025," Singh had told HT Auto in a recent interview. (Read more here)