Huge Milestone for SMIPL: 70 Lakh 2Ws, Growing Market Share in India
Suzuki Motorcycle India Achieves Milestone with 70 Lakh 2Ws, Growth in Market Share Points to a Bright Future
Suzuki Motorcycle India Records Production Milestone Of 70 Lakh
Suzuki Motorcycle India Pvt. Ltd. (SMIPL) has rolled out its 7 millionth 2W. A V-Strom SX in Champion Yellow No. 2 colour from its Kherki Dhaula plant. SMIPL’s sales figures are also noteworthy. Continued growth in market share is a positive indicator for the company’s future prospects and profitability.
Success of SMIPL’s business strategy in India and its growing presence is led by its scooters. In the financial year ending March 2023, SMIPL reported impressive sales figures. At record sales of 9.38 lakh units, YoY growth over FY2021-22 stood at 24.3 percent.
SMIPL Scooters Lead Its Success in the Indian Market
Suzuki heavily relies on its Access scooter model for the majority of its volumes. And has differentiated itself from competitors through the success of Burgman and Avenis scooters. These models offer modern features, sleek design, and noteworthy performance, which have helped create a niche for itself.
The highly competitive nature of the Indian market makes it difficult for companies to build market share. SMIPL’s growth can be attributed to several factors, including its new-ish and modern product lineup, quality of its products, and its growing distribution network.
Enthusiasts Await the Launch of eBurgman in India
Enthusiasts await the e-Burgman launch in India. Expected to be a significant development for the company, it’s first e-scooter in India. Electric Burgman will spearhead SMIPL’s EV growth plans to help it diversify its position in the Indian two-wheeler market.
The shift towards electric vehicles in India has already started, and the launch of the e-Burgman is a positive development for SMIPL. However, it poses some risks. The company will need to navigate the challenges of the EV market and ensure that its products are competitive and appealing to consumers.
Infrastructure and Technology Investments Required for EV Transition
Additionally, the transition to electric vehicles requires significant investments in infrastructure and technology. This will include the need for dedicated spaces to facilitate the ready availability of Honda Mobile Power Pack e-swappable batteries.
Kenichi Umeda, Managing Director, Suzuki Motorcycle India Pvt. Ltd. said, “We are delighted to accomplish 7 millionth production landmark. The company began its operations in February 2006 and has been delivering superior value products since its inception. This is a testimony of our commitment to India and we wish to achieve many such milestones in the future.” More