TVS Motor Company is aiming to acquire a 20 per cent share of the Indian two-wheeler market by 2019. To help its cause, TVS is planning to gradually increase the number of two-wheelers rolled out from its Hosur and Himachal Pradesh factory by 50 per cent over the next three years.
Currently TVS enjoys a 12 per cent share of the Indian two-wheeler market, which makes it the third biggest two-wheeler manufacturer in the country. While the company produced 24 lakh two-wheelers in the last fiscal, TVS will eventually ramp up the production to churn out 36 lakh to 42 lakh two-wheelers a year, by 2019. TVS says that the capacity at its Himachal Pradesh facility can be doubled without any additional investment. Now that its network and own finance services are in place, TVS is relying on its new products to drive growth.
TVS recently relaunched the Victor in the Indian market, with the aim of capturing a bigger share of the commuter motorcycle segment. Motorcycles from this lucrative segment are responsible for generating volumes for manufacturers and hence play a major role in deciding the fate of company’s future plans. While TVS doesn’t have a major player in this market space, the company hopes to change this with the new Victor. The Apache RTR 200 4V on the other hand caters to the other kind of audience – the enthusiasts. While this segment might not play as significant a role as commuter motorcycles, the Apache RTR 200 4V is an important motorcycle when it comes to building the company’s.
During the launch of the Apache RTR 200 4V and the Victor last month, TVS Motor Company chairman, Mr Venu Srinivasan had announced the company’s plan of becoming one of the top five global two-wheeler manufacturers. To achieve this, the company is planning to ramp up its network in other big global markets like Indonesia, Thailand and rest of Latin America.
