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The company said it would invest Rs 250 crore in FY15. “We are in the fourth position today and we target to be in the top three players in India, with the stream of product launches every quarter or four months for the next three years, which will significantly strengthen our position,” said Venu Srinivasan, chairman and managing director of TVS Motor.
As the demand for products that are already launched is high, the company had to delay new launches in the same segment, said K N Radhakrishnan, president and CEO.
For instance, TVS had planned to launch Scooty Zest in June, which has now been postponed to August and Star City demand pushed new Victor launch to December from September.
The company scheduled the launch of new Apache during the last quarter.
"The first quarter has been very good for us," said Srinivasan, who noted the company increased its market share to 12.6% from 12.1%.
First time in the last two years the company saw uptake in the market share. During the quarter the company reported 19% growth in domestic market, compared to 14% of the industry.
Srinivasan said the company would look at maintaining this growth momentum. He said the total two-wheeler industry in India expects to grow by around 11% compared to around 7.4% last year.
On exports, he said the company will focus on emerging markets, especially Africa, South America and Indonesia. Company's Indonesian subsidiary is expected to become cash positive this year, said Srinivasan.
