Two-wheeler segment is one of the most important components of the automobile sector that has undergone significant changes due to shift in policy environment. The two-wheeler industry has been in existence in India since 1955. It consists of three segments viz. scooters, motorcycles and mopeds. According to the figures published by SIAM, the share of two-wheelers in automobile sector in terms of units sold was about 80 per cent during 2003-04. This high figure itself is suggestive of the importance of the sector. This is the main reason for us to consider innovations in the two wheeler sector.
In order to produce a comprehensive report, we have made use of both primary and secondary research. In the secondary research, a literature review has been done entailing the various innovations in the two-wheeler sector and a comparative analysis of the two main players in the Indian market. A questionnaire based primary research has been carried out to provide insights into the psyche of the consumer on innovations. Basically the viability of the innovations has been explored, keeping in sight consumer wants.
India being a developing economy, two wheelers have become the predominant mode of transportation. Its plays a pivotal role in the day-to-day travel as it identifies with the economy and the infrastructure of the nation. The Indian two-wheeler industry has witnessed spectacular growth in the last few years. The market dynamics of the industry has substantially changed with a majority of the customers preferring bikes to scooters and mopeds. This is primarily due to better fuel efficiencies, dynamics, looks and longer product lives of motorcycles. Essentially this study will help to:
1. Understand the significance of innovation in the two wheelers industry from the consumer and producer perspective.
2. How have the innovations catered to the needs of the consumer and made the two-wheel a safe and convenient option.
Literature Review – comparison of major players in two wheeler sector
The main key players who are dealing in this sector are Hero Honda, Bajaj, Yamaha, Honda, and TVS. Hero Honda is the biggest player in this sector in India as well as in the world and playing a very important role in two wheeler automobile sector. Hero Honda, Bajaj and TVS are the Indian Bajaj is the first Indian two wheeler automobile company in the market since 1945 with the name M/s Bacharj trading corporation private limited. In 1959 M/s Bacharj trading corporation private limited change its name as Bajaj Auto Ltd. Bajaj Auto obtains license from the Government of India to manufacture two- and three-wheelers vehicles in 1959.companies and Yamaha & Honda are international automobile brand.
[pic]Bajaj is the first Indian two wheeler automobile company in the market since 1945 with the name M/s Bacharj trading corporation private limited. In 1959 M/s Bacharj trading corporation private limited change its name as Bajaj Auto Ltd. Bajaj Auto obtains license from the Government of India to manufacture two- and three-wheelers vehicles in 1959.
[pic]Honda motors of Japan is not a new name in the two wheeler scenario in the country, they were in a tie up with the Firodias owned Kinetic group. However in the late 90s they parted ways after problems arose over issues like introduction of new models, advertising expenditure, marketing strategies and other related issues. In the mid 80 Honda motors of Japan joined hands with the largest bicycle maker of India the Hero cycles to create Hero Honda which in a couple of decades or so have gone on to become the single largest motorcycle company in the world. Though Honda has come on its own on the Indian market yet it will be providing technological support to Hero Honda for the next ten years. Thus presenting a unique situation in which the company will be in direct competition with the company which it has been associated for nearly...