Chennai-based TVS Motor today said it is looking to launch diesel auto-rickshaws as part of its strategy to grow in the domestic market.
The company, which started export of its three-wheelers a couple of months back, is also exploring to venture into new markets like Bangladesh, Mexico, Peru and Guatemala.
"Our next plan is to enter the diesel passenger market in the auto-rickshaw category of three-wheelers and we should be able to accomplish this within the next 18-24 months," TVS Motor Company President (Marketing) H S Goindi told reporters here.
He said the company already has a presence in 2-stroke and 4-stroke engine segments in petrol, LPG and CNG variants.
The diesel three-wheeler will target the semi-urban and rural markets, he said without disclosing further details.
TVS Motor today launched its new 200 cc, 4-stroke engine CNG auto rickshaw -'TVS King ZS' - priced at Rs 1.24 lakh (ex-showroom Delhi).
Speaking about the company's exports, TVS Motor Vice- President (Sales & Service) 3-wheeler K Srinivasan said: "We have just started export to selected countries like Sri Lanka, Ethiopia and Egypt and our aim is to sell at least 10,000 units in the overseas markets next fiscal."
It expects to end this fiscal with domestic sales of 18,000-20,000 units of three-wheelers and hopes to take it to 30,000 units in FY 2011, he added.
"Currently 60 per cent of our sales is in the 2-Stroke category but we expect the ratio between it and 4-stroke engines to be 50:50 by the next fiscal. This will be on account of new regulations by state governments," Srinivasan said.
TVS' three-wheeler facility at Hosur has an installed capacity of one lakh units annually and Srinivasan said it is looking at increasing the capacity utilisation of the plant.
"We are currently running at 20 per cent of the total installed capacity and we will now take it up to 40 per cent by the next fiscal," he said.
TVS Motor is also planning to increase its dealership network in the three-wheeler segment to 110 outlets by March 2010, from 70 at present, Srinivasan added.
Asked if TVS plans to enter the cargo carrier category where four-wheeler players have a dominant role, Goindi said there were no such plans.