Indian Motorcycle Market Shifts: Suzuki Seizes the Day, Reports 24.3 percent sales increase for FY 2022-2023
Suzuki Motorcycle India Pvt. Ltd. had an absolute banger of a fiscal year 2022-2023, with a whopping 24.3 percent increase in sales compared to the previous year. That’s right, they sold a total of 9,38,371 units! It’s clear that their product portfolio and marketing strategy are hitting all the right notes with consumers, both domestically and internationally.
Suzuki Exports from India Continue to Soar in March 2023
In March 2023 alone, Suzuki 2W sold 97,584 units, which is a YoY growth of 49 percent. Of those sales, 73,069 units were sold in the domestic market, up from 50,734 units in March 2022. They also exported 24,515 units, further solidifying their presence in international markets.
Suzuki is poised ‘to grow in line with emerging countries.’ That means they’re looking at expanding their business operations in emerging markets. And, they already have a significant presence in India. One way they can contribute to the growth of emerging markets is by exporting cars and bikes from their Indian manufacturing facility to other countries. This helps sustain increased demand for Suzuki’s products, while also generating revenue for their Indian operations.
In March 2023, Maruti Suzuki exports stood at 30,119 units. A number that has continually gone from strength to strength. For CY2021 and CY2022, Maruti Suzuki positioned itself as the country’s topmost exporter, and CY2023 trends show further growth. Exports for SMIPL are up from 14,761 units in March 2022 to 24,515 units last month.
Suzuki eBurgman (electric scooter) – How Suzuki Plans to Stay Ahead
Suzuki has a strong brand reputation and a wide range of products that cater to various segments of the market. But that’s not all. They also have a robust distribution network that enables them to reach more customers each day. Plus, they’re dedicated to innovation and technology, allowing them to stay ahead of the competition and meet the evolving needs of customers.
Suzuki plans to launch a battery electric vehicle (EV) for small and mid-sized motorcycles that are commonly used for daily commute in fiscal year 2024. All eyes are now on the Suzuki Burgman electric scooter that is undergoing field tests in Japan.
And that’s not all. By fiscal year 2030, they plan to introduce eight models with a target ratio of 25 percent of their overall motorcycle sales being battery EVs. This move towards electric motorcycles is driven by global goals to reduce carbon emissions. For the leisure category, large motorcycles, Suzuki is looking at carbon-neutral fuels. They’re focused on reducing the environmental impact of their products.
In other news, Kenichi Umeda is the new Managing Director of Suzuki Motorcycle India Pvt. Ltd. His responsibility is to help the company continue its growth trajectory and solidify its position in both the Indian market and markets outside of India. In conclusion, Suzuki Motorcycle India Pvt. Ltd. is killing it. Their strong sales, dedication to innovation, and commitment to sustainability are helping move them forward and onward.
Source: Bike - rushlane.com
