 "Rising rural income fuels UP's two-wheeler market")
The segment clocked 14 per cent growth in UP compared to 6 per cent in India last financial year.
“The reason for higher growth rate in the state is low penetration of the market, increasing rural income levels and rising aspirations of the people,” TVS Motor general manager U B Pandey told Business Standard.
Last year, the 2-wheeler space in India and UP was pegged at 1.65 lakh units and 9 lakh units respectively. The commuter bike segment had the lion's share of 6 lakh units.
The company has a share of 38 percent in the premium bike segment in UP, while it is performing well in the economy segment as well.
He was in town to launch TVS StaR City+ in UP, which is a refurbished of its top selling TVS Star model, which has sold about 45 lakh units in India so far.
The new bike has a price tag of about Rs 45,000 (ex-showroom) in Lucknow and would be available through its 100 dealers in the state. TVS has a network of 538 authorised service centres in UP.
TVS also sells nearly 7,000 mopeds in UP every month and is now the only national level moped manufacturer in India. It sells 60,000 mopeds every month pan-India.