TVS Motor Company, which is based in Chennai, Tamil Nadu, has really grasped the two wheeler market initiative and buoyed by its performance in recent times, the firm is now gunning to regain the recently attained third rank in India by way of introducing new models in the ongoing fiscal. At the moment, TVS Motor Company is fourth behind Hero MotoCorp, Honda Motorcycles and Scooter India and Bajaj Auto but it is willing to change that particular scenario.
According to reports, the Chennai-based company is set to launch a new scooter named Zest along with refurbished versions of Apache and Victor motorcycles by the end of the 2014-15 fiscal year, thereby increasing sales and reaching the third position in India.
Venu Srinivasan, the Managing Director and Chairman of TVS Motor Company, quite explicitly spoke about this plan at the Annual General Meeting or AGM. "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," he was quoted as saying.
Speaking about all the success achieved by the firm, he said that the performances of TVS Jupiter and Star City led the firm to change the launch of Zest and Victor models but the plan of introducing a new vehicle every three or four months is still active and will be put to action.
Sources claim the TVS has been taking a cue from Bajaj Auto in terms of the export market and would be targeting emerging regions across the globe, such as Africa, Indonesia and South America. Along with this, positive news that was communicated by Srinivasan was the expected cash positive state of TVS’ Indonesian subsidiary by next year.
TVS, not so long ago, was in doldrums and regular losses were being incurred but the company’s think tank studied the challenges in the Indonesian two-wheeler market and a turnaround was staged, which has been quite remarkable. Some of the best selling products of TVS Motor Company are Star City, Jupiter, Apache RTR and Wego.
Incredibly, TVS has registered an excellent growth rate of 34.82 per cent in sales of motorcycles and scooters in the fiscal year up till the month of July. Sales of two-wheelers have been recorded at 424307 units in comparison to the 314699 units it sold last year in the corresponding period.
