TVS Motors to launch two bikes in 2015-16 fiscal

Two-wheeler major TVS Motors will launch two new motorbikes during the the first two quarters of the financial year 2015-16.

The new launches include Victor and a high-power premium bike, according to the company.

It has also set a target to increase the share to around 14.5 per cent in the domestic market sales, and a 15 per cent share in exports during the fourth quarter of the current fiscal, up from the present 13.5 per cent.

The company is betting big on new launches and increased market penetration. "In most of the markets we have gained the market share. We see an opportunity to also expand the existing Apache, Jupiter and others," KN Radhakrishnan, president and chief executive officer of TVS Motors, told analysts.

He said the company had been gaining market share on new launches, including Jupiter, Star City+ and Scooty Zest.

On the TVS-BMW joint venture, he said, the project was progressing according to the plan and the first product would be rolled out in the next 3-6 months. The joint partners earlier announced investment in the project to be euro 20 million.

On the capacity utilisation, he said, while the total capacity across its three plants was three million units, it was currently operating at 85 per cent utilisation. TVS is planning to expand its three-wheeler capacity from 10,000 units every month to 15,000 units over the next six months.