TVS Motor Company recently launched the TVS StaR City Plus in India and with the introduction of the refreshed commuter motorcycle, the company now plans to increase its current market share in the commuter segment. The plan is to increase market share of six per cent to about eight - nine per cent.
Reports suggest that the Indian motorcycle market is estimated to be around 0.9 million units per month and around 0.6 million units are from the commuter segment of motorcycles. TVS sells the StaR City and Sport models placed in the sub-125 cc segment in India. The last financial year, the company sold 1,48,000 bikes per month and now with the Jupiter and Star City Plus, the manufacturer plans to improve this figure to 1,85,000 units per month.
JS Srinivasan, vice president, sales, TVS Motor Company, said, "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 two to three 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 eight to nine per cent from the current six per cent."
The new StaR City Plus will replace the existing StaR City model and go up against the Bajaj Discover, Hero MotoCorp Splendor, Honda Shine etc. TVS Motor Company will also launch the new Scooty Zest this year.
Source: Business Standard
