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|3rd August 2013, 18:56||#1|
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After Kenya, TVS Motors sets its sights on Uganda
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TVS Motors Limited, an Indian automaker that builds two and three wheelers, is expanding its footprint in Africa, a continent whose growing middle class represents a big opportunity for big businesses across the globe. After inaugurating an assembly facility at Kenya last week, TVS Motors is all set to foray into Uganda, another African nation.
TVS Motors will set up an assembly facility at Uganda in the next six months. The two wheeler maker also plans to introduce 2 new motorcycles in Uganda. The new motorcycles, developed specifically with the African market in mind, will roll out from TVS Motors's new assembly facility at Uganda.
These motorcycles will be positioned in the commuter segment. In a year's time, after assembly operations kick off, the Indian automaker plans to corner about 25% of the motorcycle market at Uganda, a similar market share that the two wheeler maker has managed to achieve in Kenya, where it currently holds 27% market share.
Details as to whether TVS will go it alone in Uganda or whether the company will scout for a local partner to operate in the African nation, remain unknown at this point in time. An official announcement from TVS regarding its Ugandan venture is expected to come in a few months from now.
TVS Motors exports its two wheeler range to over 50 countries across the globe. The company has been facing slipping sales in its home market, India. At this juncture, a greater focus on exports is expected to give the two wheeler major enough volumes to somewhat make up for the loss of market share in the Indian market.
Apart from Africa, other significant exports markets for TVS Motors include the likes of Philippines and Indonesia. TVS Motors isn't the only Indian two wheeler maker operating in Africa. The world's largest two wheeler maker by volumes, Hero MotoCorp, and Bajaj Auto are two other Indian companies that have a significant presence in Africa.
Commuter motorcycles built by companies such as Hero MotoCorp, TVS Motors and Bajaj Auto, are known for their high reliability and fuel efficiency. Therefore, these motorcycles have a ready market in the emerging economies of the world, where the affordability and maneuverability of motorcycles make them an ideal day-to-day commuting option.
Last edited by JayPrashanth : 3rd August 2013 at 19:00. Reason: News Link Added
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