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Two wheeler manufacturer TVS Motor Company today launched commuter motorcycle, 110 cc TVS StaR City Plus in Pune. With this launch TVS is eyeing for a bigger market share in the commuter segment (below 125 cc).
At present the company's market share in the commuter segment is 6%, its aims to take it up to 8-9%. Currently, the company sells Star City and Sport models in the below 125 cc segment.
"The below 125 cc segment has sales of around 0.6 million units per month. We currently sell around 35,000 units in this vertical. With the launch of this new model we expect to sell around 45,000 units per month in the next 2-3 months. With the additional sales of 10,000 units of the 110cc StaR City Plus, our aim is to enhance TVS's market share in the commuter segment (below 125 cc) to around 8-9% from the current 6%," said J S Srinivasan, vice president, Sales, TVS Motor Company.
These models will compete with Bajaj Discover, Hero Splendor, Honda Shine, Honda Dream Yuga and few others.
According to Srinivasan, the Indian motorcycle market is estimated to be around 0.9 million units per month, out of which around 0.6 million units sell in the commuter segment.
With Jupiter and StaR City Plus, TVS is looking to sell 185,000 bikes in India. It has sold around 148,000 bikes per month in the last fiscal year.
The new Star City Plus will replace the existing StaR City model in the next two months. It is launched in two variants, priced at Rs 41,500 and Rs 44,000 (ex-showroom Delhi). TVS claims that the Star City Plus has a mileage of 86km per liter.
The company has also planned new launches this financial year. The Scooty Zest will be launched in the next three months followed by the Victor and the Apache. Currently, TVS exports 25,000 units per month mainly to African countries and Sri Lanka and Bangladesh.
