TVS aims to enter top 3 again, plans new launches
Chennai based two wheeler firm, TVS Motor Company, currently in fourth place, after Hero, Honda and Bajaj, is keen to strengthen its position in both motorcycle and scooter categories. A slew of new launches are lined up for the year so as to increase market share from 12% to 14%, reveals the company’s annual report.
TVS Motor Company plans on rolling out new two wheelers,¬†and refreshing existing one’s¬†for the Indian market and has therefore initiated fresh investments. A ¬†number of new products are planned while the company hopes to increase domestic sales and exports substantially.
TVS has revealed that they aim to get back in the top 3 position once again. They will launch at least one new product every three months. 2012-13 saw company sales of 19.9 lakhs while sales of motorcycles and scooters increased by 4% and 6% respectively. Poor rains and lack of demand in Tamil Nadu saw moped sales fall considerably while three wheeler sales increased by 63% during the year 2013-14.
TVS Motors successfully tested a diesel variant of its three wheeler which is slated for launch in the current financial year while the company‚Äôs agreement with BMW Motorrad is expected to bring in motorcycles in the sub 500 cc category by 2015.
On the export front, TVS Motor Company has seen substantial increase by 14% during 2013-14 boosted due to added demand, a better product mix and increased dealer/distribution networks in leading export markets. The company also expects to add new export markets to include Laos, Cambodia, Malaysia and Turkey during the current financial year following its successful entry into Myanmar in 2013-14.