Yamaha Targets 10 New Models By 2026-End In India, Including Premium Electric Scooters

Japanese two-wheeler major Yamaha plans to ride in 10 new models, including electric scooters, in India by the end of 2026 as part of its next phase of growth plan, a top company official said on Tuesday.

The company, which introduced four new models on Tuesday, including two electric scooters, expects sales in the domestic market to grow by 2% this fiscal, Yamaha Motor Co Ltd Senior Executive Officer and Yamaha Motor India Group Chairman Itaru Otani told PTI in Mumbai.

"We expect the Indian two-wheeler market to still keep growing, especially as the middle income class is now increasing," he said.

He was responding to a query on how Yamaha sees the Indian market.

Otani said Yamaha will be focusing on premium and deluxe motorcycle segments along with the scooters in its road ahead in India.

Asserting that "India is central to Yamaha's global growth strategy", he said it is "a market where we see immense potential across both premium and electric mobility segments."

The company's product plans include ten new models and over 20 updates by 2026-end.

The 10 new products include those four introduced on Tuesday, Otani said.

When asked if the company has set any volume target for the next phase of growth in the country, he declined to share a definitive number but said the aim would be to fully utilise the company's annual production capacity of 15 lakh units across its two units in Uttar Pradesh and Tamil Nadu.

In 2024-25, the company's overall production was at 10.01 lakh units, up from 9.3 lakh units in 2023-24.

Citing changing market dynamics, Otani said it is difficult to set a fixed number.

However, he said on the domestic front this year Yamaha India is looking at 10% sales growth as compared to last year, with the market getting a boost from GST rates reduction.

"The dealer motivation is coming back...we expect 10% growth compared to last year," Otani noted.

In 2024-25, Yamaha Motor India clocked domestic wholesales of 6,92,951 units as against 6,94,853 units a year ago, according to SIAM data.

The company is expanding its offering in the premium segment with the introduction of XSR155 to add to the existing line up of R15 and MT15.

Besides, it is also reinforcing the deluxe segment with the launch of FZ-RAVE.

The XSR155 is priced at Rs 1,49,990; FZ-RAVE priced at Rs 1,17,218 lakh (all prices ex-showroom, Delhi).

"If we look at the future, we will keep growing those categories. So we will keep investing on those categories and models, and that is our direction," he said.

On the electric foray, he said Yamaha is taking a step by step process in order to establish a firm footing in India, focussing on quality product, and sales and service network.

The company will start rolling out its premium electric scooter AEROX-E and commuting segment electric scooter EC-06 from top four cities in India where there is affinity for EVs, he said.

The company will announce the prices of these products and start market roll-out in the first quarter of 2026.

Otani said there has been a slowdown in electric two-wheeler demand in India as compared to last year due to various factors, including supply chain issues and subsidy withdrawal by the government.

The company's aim is to introduce its EV products successfully without losing customer confidence, he noted.