Calcutta, Aug. 23: Yamaha Motor expects its exports from India to grow by more than 40 per cent this year. The company exported 38,500 two-wheelers to more than 50 countries in 2002-03, and expects its sales overseas to go up to 55,000-60,000 units this year.
Exports contribute about 20 per cent of its annual income of around Rs 1,300 crore. Yamaha is arguably the biggest exporter of two-wheelers in India, though in the domestic market, it’s way behind the leaders with a mere 10 per cent share in terms of sales.
“We are fourth at present, but by 2006, we are aiming to reach the top two,” said R.R. Prasad, Yamaha’s associate vice-president (marketing). Yamaha is 100 per cent owned in India by the Japanese two-wheeler major, which in terms of sales is the second largest in the industry.
It was previously a 50:50 joint venture between Yamaha and Escorts, but the latter offloaded its stake in the company recently. Yamaha invested over Rs 500 crore in its Indian venture couple of years ago, and it now has the second biggest research and development facility outside Japan.