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Persistence & Customer Orientation Keeps Two Wheeler market In India growing 18 % this year...
By James Marriot
The two-wheeler automobile industry is continuously striving for synergy between technology and systems to provide products and services that meet the quality, performance and price aspirations of the Indian buyers. They stress on maintaining the optimum level of standards of ethics and social responsibilities, constantly innovate products and processes, developing teams that keep the momentum going to take the industry and its counterparts to heights of excellence in times to come.
The constantly rising Indian economy has enabled more and more buyers in the years to come, would be able to afford a two-wheeler. The intrusion of foreign and merchant bankers have endorsed easy loans for both the consumers and the entrepreneurs.
As a substantially large number of customer add to the family of two-wheeler owner's club, the demand for a more fuel-efficient, ride comfortable and look wise appealing two-wheeler is on rise. Moreover the increasingly growing demand for after sales support and better services has compelled the manufacturers to focus and invest more on Research & Development, Customer reach and satisfaction.
The presence of 5 strong players with infrastructure and R&D support even form overseas has almost restricted the entry of any new player in the segment, lest alone the manufacturers zone, the new comer is not even capable of entering the spare part or service support sector.
Japanese two-wheeler giant Yamaha Motor India's new CEO and managing director T Ishikawa recently speaking at Auto Expo Asia 2006 at New Delhi, announced "We plan to invest around Rs 300 Crores by 2008 on product development and expansion in India. We have plans to add 3 new models in 2006".
Hero Honda Motors continues to retain the World No. 1 title by selling a record number of motorcycles in the calendar year 2005. They sold over 29-lakh motorcycles in 2005. A growth of 123% since 2001. This was an Average Annual Growth Rate of 24.6 %.
A research report named, Indian Automobile Industry: An Analysis (2005-2010) claims that in the Indian Automobiles Segment, Two-wheeler sales crossed a significant landmark of 6mn units in the last fiscal. Total two-wheeler sales, driven by motorcycles, grew 15.75% to 6,208,860 units in 2004-05. Likewise production also grew by 16% Year On Year. Two-wheeler sales are projected to grow 18% to around 7.7 million units for FY06.
The report also claims that during the FY06 and further until 2009, the CAGR (Cumulative Annual Growth Rate), for Scooters is expected to be around 2.65%, the same for Motorcycles and Mopeds is expected to reach 11.75% and 6.5% respectively.
The auto industry, for instance, should touch 1 million vehicles a year by 2005/06 according to SIAM (Society of Indian Automotive Manufacturers). And by 2011/12 the production of motorcycles should climb to over 10 million from the current 3.2 million today.
To purchase your copy: http://www.rncos.com/Report/IM028.htm
For more information about the report please visit www.rncos.com
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