TVS Motors plans three new launches this fiscal to enter top 3
With an aim to launch a new product every three to four months, Chennai based two wheeler firm TVS Motor Company aspires to increase market share to 14% by the end of this fiscal from a current 12%.
Challenging economic environment in India and lower than scheduled demand notwithstanding, TVS Motors eyes early revival and targets a third spot in the countryâ€™s two wheeler segment. TVS Motors is currently in fourth position. The company gears up for launch of Zest Scooty on August 20th targeting female buyers in the country while the company recently introduced a new Wego in India priced at INR 46,410.
In July, TVS Motors reported a 32.15% increase in total sales. The company sold 2,03,092 units in July 2014 as against 1,53,676 units in the same month in the previous year while domestic sales increased 30% to 1,64,571 from 1,26,531 units in the year ago period.
Added emphasis where export markets are concerned, are also on the cards for TVS Motors. During 2013-14 exports of TVS Motors increased by 14% which the company hopes to take upto 25% in the 2014-15 period. The company will be launching the new Zest which will be followed by Victor and Apache bikes before the end of this fiscal and will be focusing on emerging markets of Africa, South America and Indonesia in order to achieve its third sport target.