By T Murrali

As India will be moving to the new emission regime from April this year, the manufacturing companies are fielding new models of new variants with BS-VI engines. India Yamaha Motor (IYM) has announced a slew of new brands, in line with its concept of ‘The Call of the Blue’ that carved out the ‘The Yamaha Uniqueness’ of product line-ups and experiences through the ‘Blue Square’ network. IYM has fielded four vehicles with several innovative features and technologies, with plans to create a strong network of dealers; nonetheless, it has still kept a conservative sales growth target of 4 percent.

In 2019, the company sold 624,000 units (with 40 percent scooters and the rest motorcycles), witnessing a 13 percent drop in sales over the previous year, matching the industry average. It exported 296,000 units during the year. For 2020, IYM has set a target of 650,000 units with the same break-up for scooters and motorcycles. This is just 4 percent more than last year’s sales. However, it aims to raise exports to 315,000 units.

Ravinder Singh, Senior Vice President, Strategy and Planning Group, Yamaha Motors India Sales Pvt Ltd, said, “We have been able to increase our market share in deluxe and premium segments and maintain it in the scooter segment (for Fascino), thanks to our focused brand strategy: ‘The Call of the Blue.’ Our success in 2020 will depend on creating a strong network and we have started working on this direction. ‘Blue Square’ is one such initiative.”

‘Blue Square’ 

‘Blue square’ is a unique concept intended to offer Yamaha’s racing DNA to exciting, stylish and sporty products and experiences. ‘The Call of the Blue’ started in 2018 expanded to products and experiences in 2019.

‘Blue Square’ is created as a destination for all two-wheeler enthusiasts. The concept was to expand the company’s uniqueness for fuelling the passion for riding in India featuring a wide range of riding gears and accessories along with the two-wheeler line-ups that deliver good driving experience. Yamaha Blue Square Showrooms will serve the excitement to grow into a popular culture by turning it into an aspiration for every young rider.

To a question on how ‘Blue Square’ will help the company to strengthen its market position, Singh said the company’s objective is to focus on youngsters. It launched the brand campaign ‘The Call of the Blue’ mainly to connect with the young customers. Now IYM is taking it to the next level with ‘Blue Square,’ which according to him is more of the brand connection, linking its BTL (below the line) activities. “From ATL (above the line) activities to BTL, we are connecting the customers and giving the experience of sporty and stylish vehicles, which is our core DNA, to the product.” The additional dealerships planned for this year will be primarily for ‘Blue Square’ outlets, he said. 

Many of the existing dealerships will also be upgraded to deal with its new introductions of 155cc motorcycle MT-15 and the 125cc scooters, the Ray ZR 125 FI and Street Rally 125 FI, and the iconic Fascino 125 FI. Shifting from the 110cc segment, IYM is strengthening its market in the 125cc scooter segment and the motorcycle line-up.

MT-15

Known for its balance of torque and agility, MT-15 has enhanced control postures and single-channel ABS. A special colour ‘Ice Fluo-Vermillion’ was also introduced. It received rave reviews in many countries for its distinctively aggressive appearance. The new BS-VI compliant MT-15 has a rear radial tyre. Its advanced design expressing torque and agility is popularised further by a minimal look, dynamic headlight, short tail and an overall finish that illustrates its unique style.

The new bike comes with VVA engine for nimble acceleration with model-specific ECU,  optimized secondary reduction gear ratio for snappy riding in town, A&S clutch for stress-free gear shifts, motard-like riding position with a great deal of freedom on a tight, concentrated silhouette, 282mm front disc brake with single-channel ABS for excellent stopping power. The advanced design expressing torque and agility is further accentuated by dynamic front face styling headlight, short tail with a vertical tail light and overall graphics and finish.

Ray ZR 125 FI, Street Rally 125 FI

The new scooters come with several new features, new engine technologies and are available in a range of new colours. The new Ray ZR 125 FI and Street Rally 125 FI are powered by a BS-VI compliant, air cooled, fuel injected, 125cc blue core engine that produces a power output of 8.2 PS @ 6,500 RPM and a torque of 9.7 Nm @ 5,000 RPM. The power output and economy are 30 percent and 16 percent higher respectively than the earlier scooters.

The styling concept is ‘Armored Energy’ which evokes the feeling of a powerful motorcycle laced to proportions, details, striking design and new technologies. The sporty, sharp-looking headlight is Class C-compliant while the Y-shaped LED position light adds greater originality to the design. The turn signals at the front and rear use individual mounting stalks like those used for motorcycles. The Ray ZR 125 FI is available in both drum and disc brake versions, and the disc brake version gets digital instrument cluster as a new feature. The new Ray ZR 125 FI is available in a wide range of colour variants including Dark Matte Blue, Metallic Black, Cyan Blue, Matte Red Metallic and Reddish Yellow Cocktail.

The new Street Rally 125 FI also fuses motorcycle elements with those of a scooter and scatters them throughout the design. Brush guards shield the rider's hands from oncoming airflow and add a sporty, adventure-influenced touch to the machine. It additionally offers fully digital instrument cluster, side panels designed to look like a rugged frame, block-pattern tyre, sporty coloured wheel stripes (front and rear) and side panels intended to look like metallic protectors. The new Street Rally 125 FI is available in two colours: Deep Purplish Blue Metallic and Sparkle Green.

Fascino 125 FI

The new Fascino 125 FI is powered by a BS-VI compliant, air cooled, fuel injected, 125cc blue core engine that produces a power output of 8.2 PS @ 6,500 RPM and a torque of 9.7 Nm @ 5,000 RPM. The power output and economy are 30 percent and 16 percent higher respectively than the earlier scooters.

Along with the new features and technologies, the visual impression of the new Fascino 125 FI rests on its classic European styling as it gets an all-new exterior design, higher quality bodywork, newly designed headlight, new gauges and other features that produce a feeling of elegance and status. The new scooter is designed to be a fashionable vehicle with styling that embodies strength, refinement and beauty along with classical touches. The vehicle is available in disc and drum brakes and a wide range of colour variants including Vivid Red, Metallic Black, Yellow Cocktail, Matte Blue, Dark Matte Blue, Suave Copper and Cyan Blue.

Lightweighting

The body weight of the new Ray ZR 125 FI, Street Rally 125 FI and Fascino 125 FI is 99 kg, which is, at the least, 4 kg lighter than Yamaha's earlier scooters. All the new scooters come with ‘stop & start system’ that prevents engine idling and subsequent start with a single throttle twist which uses the sensors to assess the riding environment. The vehicles have front disc brake with unified brake system. In addition, the smart motor-generator fitted to these vehicles uses electronic controls to bring a quieter engine start without the need for a separate conventional electric starter. One of the key features is the ‘side stand engine cut-off switch,’ which prevents the engine from starting if the side-stand is not retracted. This is a unique feature as it can prevent accidents and ensure safety of the rider.

Talking to this publication on the objective to introduce the engine cut-off switch to the side-stand, Yasuo Ishihara, Managing Director, Yamaha Motor Research & Development India Pvt Ltd, said that in Europe these safety systems are mandatory. Since it is a safety feature the company wanted to introduce it in India also. “We have decided to incorporate this feature in the two-wheelers (Ray and Fascino) that we have launched now. In a phased manner this feature will be introduced in all the models we produce.”

The company has also introduced stop-start systems and this was possible as it replaced the starter motor with a combined generator-cum-starter motor. Ishihara said that in India the traffic is dense with more stopping and starting conditions, not only at traffic lights but also on congested roads. This mild hybrid helps in managing these situations while conserving fuel. However, when there are frequent stops and starts, the power drawn will be more from the battery; therefore the company has increased the battery capacity.

Yamaha has also reduced the total kerb weight by 4 kg. This was achieved as the design team was given very stringent targets to reduce weight. There were targets set for every major part in the vehicle. This combined with high-end design helped the company achieve weight reduction despite increasing the sheet metal content. For instance, in the earlier version of the scooters, the front fender was in plastic but in the BS-VI version this has been replaced with metal. According to him, one of the reasons for weight reduction was that the vehicles have no starter motors, since the generators do that function. Despite introducing new technologies, localisation in all the models is over 90 percent, he said.

Target Customers               

The target customers for the three scooters, according to the company, are the youth (18-24 years) who are high on adventure, and who find the true reflection of their riding personality by the mobility they ride and its performance. Motofumi Shitara, Chairman, Yamaha Motor India group of companies, said, “Customers can now take the experience of all such exciting Yamaha two-wheelers at the new ‘Blue Square’ outlets of Yamaha which is conceptualized to garner the racing spirit along with its comfort, ambience and the beacon of the Yamaha Blue. The company also plans to expand its brand strategy of ‘The Call of the Blue’ including product strategies and networks in 2020. The ‘Blue Square’ which was opened recently in Chennai will expand to 100 outlets in 2020 and eventually would consolidate the 125cc scooter market share and sports market share for the brand. The ‘Call of the Blue’ will be scaled up in 2020 to offer the excitement, sporty and stylish experiences to a wider audience.”

Digital Communication

On the communication side, he said, the company is more focused on the digital platform. Despite fielding new stylish models with more safety features and power, the company has set itself a growth of just 4 percent for the current calendar over 2019. Seeking his reason for this, Singh said it is justified. “At this moment we are very conservative. We are talking to dealers and we are also taking feedback from people like you. We see a clear shift from 110cc to 125cc (in scooters) and it will increase in the coming years as people are further upgrading.” Therefore, the segment will further evolve. But it all depends on increasing affordability, which is directly linked to economic growth. The key point is that India is a country where more than 50 percent of the population is young. This is precisely the reason for the company to field products targeting the youth, he said. “Based on the features and the pricing we are going to get a good amount of market share in this segment; still we are taking cautious steps,” he explained.

The company will focus on three areas to connect with its customers easily - Premium, Deluxe and Scooters. Otherwise, connecting with customers from the commuting point of view would be difficult for Yamaha. This is the reason for the company to upgrade its scooters to 125cc, Shitara said.

Currently, IYM has 593 dealers across India with about 2,000 touch points. The company has allotted INR 1,500 crore for building capacity and capabilities, to be spent over four years from 2018. It had to invest INR 16 crore to develop BS-VI engines. Though modifications to the engine were minimal, the additions were in the form of double catalytic converters for exhaust, O2 sensors and advanced OBD modules. Investments have also gone into precision machining of parts for BS-VI related elements, and the development of new parts.  (MT)

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Carolwood LP has officially closed its agreement with Polaris to acquire the iconic Indian Motorcycle Company, which will now become an independent business.

The transition coincides with the 125th anniversary of the company, which also sees Mike Kennedy, a veteran of the motorcycle industry, take over as the Chief Executive Officer of the stand-alone entity.

The acquisition agreement includes the transition of approximately 900 employees to the new Indian Motorcycle Company. Manufacturing operations will remain at existing facilities in Spirit Lake, Iowa and Monticello, Minnesota.

Industrial design, technology and product development will continue at research and development centres in Burgdorf, Switzerland and Wyoming, Minnesota. Sales, service, and support for the dealer network and customers are expected to continue without interruption.

The company’s strategy involves concentrated investment in motorcycles, technologies, and craftsmanship. The executive emphasised a commitment to the brand's American manufacturing identity and its dealer partnerships.

Mike Kennedy, said, “It’s an incredible honour to take the helm of Indian Motorcycle as it celebrates its 125th Anniversary, empowered by a sense of gratitude and opportunity, and the support and ambition of a well-resourced, highly motivated ownership team. 2026 will be a special year to honour our history, but more importantly, to drive the brand into the future with a renewed level of commitment, focus and clarity that can only be found as a stand-alone company.”

The new leadership intends to focus on transparency and collaboration with its global dealer network, incorporating feedback into operations, marketing, and product development.

“We will achieve our vision through a deeper level of differentiation, leaning in on what makes our brand unique, and with products that possess a style, craftsmanship and performance quality that is uniquely justified by our historic legacy and spirit of innovation. Dealers are our most important partners, and we will judge our business based on the success of our dealers. We intend to be extremely collaborative with our dealers, actively listening to their feedback and incorporating it into our planning and decision-making, not only in terms of dealer operations, but also product development and marketing. America’s first motorcycle company will put America first. Our brand and business will be grounded in our American identity and more importantly, American manufacturing. ‘Built in America’ is not a slogan. It’s a competitive advantage, and we intend to use it,” added Kennedy.

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Bengaluru-based electric vehicle maker Ather Energy has posted its highest quarterly revenue to date, reaching INR 9.95 billion for Q3 FY2026, which marks a 53 percent YoY growth.

The company attributed the performance to sales volume growth as well as a rise in non-vehicle revenue. During the period, the company sold 67,851 units, a 50 percent increase YoY. Consequently, Ather’s national market share has expanded to 18.8 percent.

Ather Energy reported a narrowing of its EBITDA loss to INR 299 million, with the EBITDA margin improving by 1,600 basis points to (-3 percent). This progress is attributed to cost management and operating leverage.

Key Financial Data:

• Adjusted Gross Margin (AGM): INR 2.51 billion, up 111 percent YoY.
• AGM (Excluding Incentives): 23 percent, an increase of 1,100 bps YoY.
• Non-Vehicle Revenue: Contributed 14 percent to total income, led by software subscriptions, charging and services.
• Quarterly Loss Reduction: Narrowed by 45 percent compared to Q2 FY2026.

Tarun Mehta, Executive Director & CEO, Ather Energy, said, “Q3 has been a strong quarter for us. Robust festive demand, healthy volume growth, and improving market share together drove our best quarterly revenue and EBITDA so far. Over the past few quarters, we have stayed very focused on getting the fundamentals right by improving unit economics, margins, and operating leverage, and that effort is now clearly showing in the improvement in EBITDA. What is particularly encouraging is the strength of our ecosystem. AtherStack attach rates remain very high, and customer engagement is deepening even as our sales scale. All of this gives us confidence that the business is structurally prepared for sustainable, long-term growth.”

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Suzuki Motorcycle India (SMIPL), the two-wheeler subsidiary of Suzuki Motor Corporation, Japan has reported wholesales of 125,786 units in January 2026, which marks a 15 percent YoY growth.

In the domestic market, the sales increased by 14 percent to 100,296 units, as against 87,834 units last year, while exports came at 25,490 units, up 21 percent YoY.

Deepak Mutreja, Vice-President – Sales & Marketing, Suzuki Motorcycle India, said, “The sales results for January indicate growing demand in both domestic and international markets. This momentum is supported by our ongoing focus on continuous customer engagement, after‑sales service enhancement, and network expansion. We will continue to invest in these areas to ensure that customers receive a seamless and reliable ownership experience throughout the year.”

Furthermore, the company reported INR 895.6 million revenue through spare parts sales, marking a 20 percent YoY growth.

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India Yamaha Motor (IYM), a leading two-wheeler manufacturer, has announced the price of its first electric scooter – the EC-06 – at INR 167,600 (ex-showroom Delhi). The e-scooter based on the River Indie will initially be sold in select cities through the company's Blue Square showrooms in a Bluish White colour.

The EC-06 features a 4kWh fixed battery paired with an Interior Permanent Magnet Synchronous Motor (IPMSM). It offers a certified claimed range of 169km on a single charge. It has a claimed top speed of 79 kmph, 6.7 kW of peak power, 26 Nm of torque and can be charged in 8 hours using a standard plug. It comes with 3 years or 30,000 km warranty for the battery.

The vehicle is built with IP67-certified protection for the motor and battery, while other electronics carry an IP65 rating for water and dust resistance.

The scooter includes three riding modes – Eco, Standard and Power – alongside a Reverse Mode. The chassis uses telescopic front forks with hydraulic dampers and a rear coil spring suspension. Braking is handled by 200mm discs at both ends, supported by a Combi Brake System (CBS).

For storage and technology, the EC-06 provides 24.5 litres of under-seat space and a colour LCD display. It integrates with the ‘Yamaha Motor Connect R’ app for real-time data access.

Hajime Aota, Chairman, Yamaha Motor India Group, said, “The EC-06 marks an important step in Yamaha’s journey toward sustainable urban mobility. As India accelerates its transition toward a carbon-neutral future under the government’s visionary leadership, Yamaha is proud to support this national agenda through high-quality electric innovation. Designed for everyday commuting, it balances efficiency with performance, offering an impressive range and intuitive features. As a first-of-its-kind model from Yamaha, it demonstrates how sustainability and riding excitement can coexist – true to our brand philosophy and our responsibility towards the future of India’s green economy.”

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