TVS looks to regain 3rd spot in bike, scooters segment

Tags: Companies
Chennai-based TVS Motor Company is targeting regaining the third position in the country's two-wheeler market on the back of new launches in the current fiscal.

The company, which has lined up scooter Zest and refreshed versions of motorcycle models Apache and Victor before the end of the current fiscal, is behind Hero MotoCorp, Honda Motorcycle & Scooter India and Bajaj Auto at present in the Indian two-wheeler market.

"The company would look to regain its third position in the two-wheeler market backed by new launches...The company intends to launch scooter Zest and bikes Victor and Apache before the end of this fiscal," TVS Motor Company Chairman and Managing Director Venu Srinivasan had told shareholders at the company's Annual General Meeting.

He said the success of recent models like Jupiter and Star City had led to rescheduling the launch of models like Zest and Victor. Yet, TVS Motor Co would launch a new vehicle in every three or four months this fiscal, he said.

Commenting on export plans, Srinivasan said the company would focus on emerging markets especially Africa, South America and Indonesia.

He also said the company's Indonesian subsidiary is expected to become cash positive this year.

Though it has been making losses, the turnaround in the company was possible from the learnings of the competitive Indonesian two-wheeler market, he added.

The Chennai-based company sells various popular scooter and motorcycle brands in the domestic market including Jupiter, Wego, Apache RTR and Star City.

In this fiscal till July, the company has seen a growth of 34.82 per cent in its motorcycle and scooter sales at 4,24,307 units, compared to 3,14,699 units in same period of previous fiscal.

Sales in the Indian motorcycle and scooter market in the April-July period stood at 50,14,522 units.

EDITORIAL OF THE DAY

  • RBI must join hands with IRDAI to stop misselling of insurance by banks

    Reserve Bank of India (RBI) governor Raghuram Rajan has observed in the annual report for 2015-16 released on Monday that the central bank will be foc

FC NEWSLETTER

Stay informed on our latest news!

TODAY'S COLUMNS

BK Chaturvedi

Governance is under serious attack

The prosecution of an extraordinarily honest civil servant like HC ...

Rajgopal Nidamboor

It is not easy to define emotion

Scientists, who analyse straightforward scientific facts, also recognise and comprehend ...

Dharmendra Khandal

Everything has its place in nature

Last week I was observing an injured animal, because of ...