August 27, 2014: TVS Motor, the third largest two-wheeler manufacturer in the country appears to be prepping to launch a new commuter motorcycle and a new TVS Apache variant in the next six months. It is claimed that the motorcycle will fall in the 100cc-125cc category. This step appears to be an imitative for the company to enhance its two-wheeler market share from 12% to about 14.5% inIndiaby selling around 60,000 more units.
Regarding the same, K.N. Radhakrishnan, President and Chief Executive of TVS Motor stated that the firm will be launching new products that will enhance their portfolio and market share as well. They are in plans of strengthening the TVS Phoenix range of products by introducing a new product in this segment within six months.
It was also revealed that the two-wheeler firm will be launching a new variant of Apache in the March – April time frame of 2015 and the product will include key changes going by the customer feedback on the existing lineup. However, the executive has not shared any further details regarding the same.
TVS Motor as a company is operating via 900 dealers and 3,000 sub-dealerships across the country. Also, 5 to 6 percent new dealers are added every year to the TVS family. The annual installed capacity of the firm is 2.8 million two-wheelers and it produces a total of 2,30,000 units every month. Of this, almost 1,70,000 units are sold within the country, while the rest is exported abroad. On the whole, the Indian automobile market is witnessing a sales figure of 1.3 million units of two-wheelers in the country per month.
To keep its loyal customers intact, TVS has previously announced that it will be launching one product every quarter and going by the same, the company has launched four different products – Jupiter, Wego, StarCity and Zest respectively since September 2013. While Zest is the third most selling scooter in July, the firm has managed to sell around 10,000 units of Zest in the next couple of months. For the same, TVS has invested Rs 75 crore for developing the Scooty Zest that was launched lately carrying a price tag of Rs 42,300.
