TVS aims big in scooter sales in the country despite of repeated reminder news that market situation is still vulnerable and sales graph does not look healthy by any means. This confidence is profoundly based on the expectation that recently introduced Jupiter will turn the tides in its favour. With the launch of a new model in the market, TVS Motor Company has become a competent player in the scooter space that prevails in the Indian automobile market. industry experts are of a view that the all new Jupiter gets the company to foray into the ‘exclusively men’ scooter segment.
As TVS Jupiter solely focuses on self-employed, businessmen and traders in the country, TVS Motor Company is keenly looking forward to achieve a good sales in the scooter space. According a top company official, on the back of newly launched Jupiter, the auto company is now aiming to touch sales of 50,000 units per month, consisting its entire scooter portfolio.
P G Satishkumar, General Manager, Sales, TVS Motors giving insights into forecast of sale numbers has reportedly stated that Jupiter will help the company to add around 15,000 to 16,000 units to its overall sales, which presently stand at 35,000 units a month. He also said that Jupiter is being produced at company's Hosur unit. It is priced at Rs. 50,220 in Tamil Nadu that offers a good market for scooters of the company.
Earlier during the launch of Jupiter, Venu Srinivasan, Chairman of the company, had asserted, “The company would have 20,000 Jupiter scooters ready by Diwali to cash in on the upcoming festival season. About 4,000 Jupiter scooters had already been shipped to dealers, he added. Initially, Jupiter would be sold in the North. The South launch would happen in November.” He had also stated that the company expects to sell around 10,000 units a month, however, if required, as per the demand, the overall capacity could be scaled to about 20,000 units too. Currently, TVS Motor Company has approximately 15 per cent market share in the scooters space. However, with the launch of Jupiter, the company is confident of increasing its market share in the Indian auto market. This expected increment in the share holding is likely to be around 4 to 5 per cent.
The 'male single use' segment currently accounts for 36 per cent of scooter sales. Notably, the two-wheeler sales fell by 4 per cent during April-June period as compared to the corresponding time in the previous year owing to the depressed market conditions in the country. However, contrary to it, the segment of scooters recorded a year-on-year gain of 14.3 per cent during the same time period, which was mainly aggravated by new launches. The growth in scooter segment is even more profound, viz. in excess of 20 per cent, spanning period from July to September. Experts say that with 2.6 lakh sales a month, scooter sales is registering a good growth due to increased acceptability of without gear vehicles among customers, especially woman.
