Yamaha All Set to Enter Car Market in Europe
Published By : 19 Mar 2015 | Published By : QYRESEARCH
Yamaha, the second biggest motorcycle manufacturer in the world will partner with Gordon Murray, the former Formula One car designer, in a move to expand business to map the fuel efficient drivers market. While motorbikes will still hold 2/3rd of the core business of the company, the ambitious effort that will involve building a production unit in Europe, will see Yamaha’s incursion into a city car sector that its rivals, including Daimler, Renault, and Toyota, have yet to set up a presence in.
Speaking to the Financial Times, Mr. Hiroyuki Yanagi, the chief executive of Yamaha stated that to expand its business, they need to try something innovative in addition to their existing commercial activities. Further he added that he thinks that they have a chance to seize the modern market developing in Europe.
The company’s trial product, the Motiv, was released at the 2013 Tokyo Motor Show with emergence of the micro-car based on motorcycle technology. The two-seater, which is available in both one liter and electric versions, will be sold to counter to the crackdown on carbon dioxide emanation in European cities, having a focus towards the sales Japan and other Asian nation.
Rather than teaming up with Toyota, its largest shareholders with a 3.6% stake, Yamaha has determined to venture into this market solo with its prototype, the Motiv, set to be launched as the first car since the late 1960s. The European mini car sales will only rise from 1.1 million units in 2015 to 1.24 million in 2020, as expected by IHS Automotive. As Yamaha is capable of crossing the technical hurdles needed to succeed, setting up a sales network will be tricky in an already crowded industry.