TVS Motor Company on Thursday announced that it has partnered with Grupo Q to strengthen its presence in Central America.
The two-wheeler maker said that its new distribution partnership with Active Motors SA, a subsidiary of Grupo Q, for Nicaragua and Costa Rica will expand its business in Central America further. Active Motors SA will support TVS Motor with dedicated sales, service, spares and customer relationship management (CRM).As a part of this association, Active SA Motors will facilitate the opening of three flagship outlets and about 50 dealerships for TVS Motor Company in a phase-wise manner across Nicaragua and Costa Rica. TVS Motor Company said it has a rich experience in Central America with its presence across key markets, including Guatemala, El Salvador and Honduras.
Commenting on this association, R Dilip, President - International Business of TVS Motor Company said, Central America is an important market for TVS Motor Company. We are delighted to partner with Grupo Q, which has a strong pedigree in the automobile industry in the country. This association is a significant step towards expanding TVS Motor's market presence in Central America, driving innovation through best-in-class products and setting a customer experience benchmark. The deep understanding of the market, rich experience in the industry and retail financing capabilities make Grupo Q the best strategic ally for TVS Motor Company in Nicaragua and Costa Rica. We will continue to offer a wide range of aspirational products with complete service and spare parts support combined with the strength of our network facility to cater to the mobility needs of the region.
TVS Motor Company product range in Costa Rica and Nicaragua will include TVS Apache RTR 200 4V, TVS Apache RTR 160 4V, TVS Apache RTR 160 2V, TVS Stryker 125, TVS Raider 125, TVS HLX 150 5S, TVS Neo NX and TVS NTORQ 125.
TVS Motor Company is a two and three-wheeler manufacturer and is the flagship company of the $8.5 billion TVS Group. The company's consolidated net profit jumped 29.2% to Rs 234.37 crore on 23.4% surge in net sales to Rs 6,483.42 crore in Q2 FY22 over Q2 FY21.
Shares of TVS Motor were trading 0.85% lower at Rs 676.90 on BSE.
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