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Encouraged by the 30% sales growth clocked in the first five months of the current fiscal, TVS Motor Company, the third largest two-wheeler maker by volume, aims to increase its market share to 14% from 12% by end of 2014-15. The company aims to sell 2.2 million two-wheelers during the current year, a growth of 26% over the previous fiscal.
"Last year, we sold 1.75 million two-wheelers and we have seen 30% sales growth in the first five months of the current fiscal, which is higher than the industry. The new products that we have launched till now will help us sell additional numbers," J S Srinivasan, Vice President - Sales, TVS Motor Company told Business Standard.
Its market share at the end of five months during the current fiscal, has gone up to 13.2%.
TVS Motor on Monday launched TVS Scooty Zest 110 here and this model, the company expects would bring additional sales for the company. The company has spent in excess of Rs 75 crore to design and develop the new scooter. Scooty Zest will be available pan-India by end of this month, he said.
It also launched upgraded models of Wego earlier this year. Together with three scooters in the 110 cc category such as Wego, Jupiter and Zest, TVS aims to sell 75,000 units per month during the rest of the year. In the scooter industry, it aims to increase its market share to 18% from the present 15%, Srinivasan said.
Currently, it sells 60,000 scooters a month out of 350,000 units a month sold by all companies. It also sells 60,000 units of motorcycles and 60,000 units of mopeds every month. It also exports 30,000 units every month.
Srinivasan said the company is also aiming to launch one more motorcycle in the commuter segment (100cc range) during the fourth quarter of this fiscal.
TVS Motor has an installed capacity to produce 2.8 million two-wheelers across three plants in the country. The newly launched TVS Scooty Zest 110 is manufactured at its plant near Mysore.
