India Yamaha Motor rolled out its millionth light-weight scooter, a red coloured Fascino, from Surajpur manufacturing facility in Uttar Pradesh on Friday. Around 80,000 of the scooters were exported to global markets such as Nepal, Mexico, Sri Lanka, Costa Rica, Dominican Republic and Ecuador.
Cygnus Ray Z has been the highest selling IYM scooter in the export market. Apart from Surajpur, the scooters are also being exported from Chennai.
"This is a significant landmark for Yamaha in India. IYM has had a very successful run in the scooter segment and has been growing at a rapid pace in the past few years," IYM Chairman Hiroaki Fujita said in a statement.
Fujita feels that the success is a reflection of Yamaha's increasing footprints in India in the scooter segment. "We are confident that we will be able to further reinforce our position in the market. Both our plants at Surajpur and Chennai have performed exceedingly well, contributing to the company's expanding customer base and business," he added.
IYM is an Indian subsidiary of Japanese manufacturer Yamaha Motor Company, formed in 2008 as a joint venture with Mitsui. It also produces a range of motorcycles for domestic consumption and export including the Crux, FZ16, Fazer, and R15.
IYM entered the scooter market in India in 2012 with Cygnus Ray. The line-up expanded with the models Cygnus RayZ, Cygnus Alpha, Fascino and Cygnus Ray-ZR.
IYM is targeting to produce a million vehicles this year, of which 4.6 lakh units will be scooters. The scooter segment is soaring with 30 per cent contribution to the two-wheelers sales and IYM is targeting 10 per cent market share in the segment by the end of this year.