TVS looks to regain third position in two-wheeler market - Livemint

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TVS Motor sells various popular scooter and motorcycle brands in the domestic market, including Jupiter, Wego, Apache RTR and Star City. Photo: Hemant Mishra/Mint

New Delhi: Chennai-based TVS Motor Co. Ltd is targeting regaining the third position in the country’s two-wheeler market on the back of new launches in the current fiscal.

The company, which has lined up the Zest scooter and refreshed versions of motorcycle models Apache and Victor to be launched before the end of the current fiscal, is behind Hero MotoCorp Ltd , Honda Motorcycle and Scooter India Pvt. Ltd and Bajaj Auto Ltd at present in the Indian two-wheeler market.

“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,” TVS chairman and managing director Venu Srinivasan had told shareholders at the company’s annual general meeting.

He said the success of recent models such as the Jupiter and the Star City had led to the rescheduling of the launch of models including the Zest and the Victor. However, TVS would launch a new vehicle in every three or four months this fiscal, he said.

Commenting on export plans, Srinivasan said the company would focus on emerging markets especially Africa, South America and Indonesia.

He also said the company’s Indonesian subsidiary is expected to become cash positive this year.

Though it has been making losses, the turnaround in the company was possible from the learnings of the competitive Indonesian two-wheeler market, he added.

The company sells various popular scooter and motorcycle brands in the domestic market including Jupiter, Wego, Apache RTR and Star City.

In this fiscal till July, the company has seen a growth of 34.82% in its motorcycle and scooter sales at 424,307 units, compared to 314,699 units in same period the previous fiscal. Sales in the Indian motorcycle and scooter market in the April-July period stood at 5,014,522 units.