Homegrown two-wheeler makers such as Hero MotoCorp, Bajaj Auto and TVS Motor Co can make a match of global players in international markets, but their success will depend on ability to produce durable and quality products, according to JD Power.
According to the global marketing information firm, in the domestic market manufacturers will increasingly face the challenge to keep pace with fast-changing consumer preferences which would shorten product life-cycle.
“Indian companies have that level of understanding of what ticks in what segment. These can be replicated in other similar global markets where they export,” JD Power Director Kaustav Roy told PTI.
There is no doubt that in markets like Africa and Latin America, Indian bikes can do well, he added.
“The challenge, however, is the long term durability and quality of the vehicles. Some of the countries where we are going has not the best of roads,” Roy said.
Chinese manufacturers had once flooded South East Asian markets, but due to poor quality products, consumer preference shifted back to Japanese bikes like Yamaha and Honda. Indian manufactures had also gained because of their affordable but good quality products.
Motorcycle exports from India in the April-February period this fiscal grew by 15.84 per cent at 21,04,718 units as against 18,16,931 units in the year-ago period.
Bajaj Auto is the largest exporter of bikes from India during the period at 14,46,029 units up 18.28 per cent from last fiscal.
Hero MotoCorp’s exports grew by 8.93 per cent at 1,09,781 units while that of Chennai-based TVS Motor Co saw its motorcycle exports at 2,63,327 units, up 31.8 per cent from last fiscal.
On the domestic market, Roy said: “The rapidness with which consumers have evolved is a challenge for the manufacturers. Consumers are very fickle in terms of brand loyalty and segment.”
Therefore, he added: “The overall product life-cycle has shortened and it is necessary for the manufacturers to remain tuned to the market reality.”