M&M’s two wheeler division that only recently entered the two wheeler market are positive about the opportunities offered in the scooter market.
The company’s VP of customer care and sales, Dharmendra Mishra, said that the scooter market is growing quite rapidly and they are witnessing a great demand growth. They are expecting a growth in the double digits for this fiscal year. The scooter market, which was almost dead a few years ago, has not revived. He said that demand for the scooters are coming mostly from semi urban and rural areas.
The company first forayed into the motorcycle market with their 125cc engine bike. They have also begun exporting two wheelers to African and South East Asian countries. Having a production capacity of 5 lakh units a year, they managed to sell about 1.70 lakh models last year, according to Mishra. Mahindra two wheelers has a market share of 10% in this market.