TVS aims to increase market share with new Scooty Zest
With an aim to see an increase in market share from a current 15% to 18%, TVS Motors is banking heavily on their just launched Scooty Zest. The company aims at selling around 10,000 units of this 110cc scooter in the first month which was launched in India at a price of INR 42,300 (ex-Delhi) yesterday.
TVS Motors, besides relying on the new Scooty Zest to increase market share is also ready a new Victor motorcycle to be introduced into the country in the next six months. With scooter segment being fastest growing segment, expected to increase from 26% to 30% soon, sales targets set for the Scooty Zest could well be achieved.
Scooter sales in India reach a total of 3.5 lakhs each month out of which 55,000 units are fron TVS Motors. The company has invested INR 72 crores into the development and production of Scooty Zest which is being produced from the company plant in Mysore. Other TVS products such as Wego, Juipter, Scooty Pep and Streak will also bring in required numbers while the new Victor will be added to list of companyâ€™s current range of motorcycles which include Sport, Star City plus, Phoenix and Apache.
TVS Motors reported a 32% YoY growth in vehicle sales in July 2014 with 2,03,902 units sold last month as against 1,53,676 units sold in July 2013. Scooter sales of the company increased 64% from 36,900 units in July 203 to 60,619 units in July 2014 while motorcycle sales increased 33% from 57,886 units sold in July 2013 to 76,767 units sold in July 2014.
via ET Auto