TVS looks to regain 3rd spot in bike, scooters segment
Aug 17 2014 , New Delhi
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.