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|15th July 2014, 11:39||#1|
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TVS to launch a new vehicle every quarter
TVS Motor Company is gearing up to strengthen its presence in the country. For this, it plans to launch a slew of new products.
With an investment of Rs. 250 crore is likely to me made in FY15, TVS intends to introduce a new product in the market every three or four months for the next three years. The company is hoping that this product offensive will help it climb into the list of top three two-wheeler manufacturers in the country.
TVS claims that it has been delaying the launch of new vehicles owing to the high demand for its existing products. The company has had to postpone the launch of the Scooty Zest from June to August. The demand for the Star City has resulted in the launch of the Victor motorcycle being pushed to December from September. The Apache was scheduled to be launched in the last quarter of 2014.
TVS's market share has increased from 12.1% to 12.6% in the first quarter of the year. Its domestic sales have risen by 19% compared to the industry's 14%.
TVS also plans to focus on emerging markets such as Africa, South America and Indonesia for exports.
Source: Business Standard
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