New Delhi: Japanese two-wheeler company Yamaha Motor Co. plans to make its cheapest motorcycle in India at a cost of about 500 dollars.
According to ABC News, this would be the third Yamaha model available in India, after the Crux, which costs 635 dollars, and the YBR, which costs 760 dollars. Yamaha reportedly hopes the new bike will boost its sales in the country to two million vehicles by 2016.
According to reports, it sold 520,000 cycles in 2011 and expects to sell 640,000 in 2012.
Hiroyuki Suzuki, chief executive of India Yamaha Motor Pvt. Ltd., said: "It was time for Yamaha to ''address a bigger part of the market.''"
"Just about one in every 25 people in India owns a two-wheeler," Suzuki said. "There is a huge scope to attract more buyers with a fuel-efficient product that is priced reasonably," he added.
The company, which announced a five-year plan in May to build new products and a facility in India, did not set a release date for the motorcycle, but said it would be exported. According to reports, Yamaha, which now has a market share of 3.5 percent, aims to control 10 percent by 2016.
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