TVS Motor Company Limited is a part of TVS Group that deals with the manufacturing of a wide range of products like motorcycles, scooters, mopeds and auto rickshaws in the country. Notably, the Chennai based company, on 20th September, 2013, announced that it plans to achieve a 10 per cent growth rate in total domestic two wheeler sales during this fiscal year. This remark is said to have been backed by offering of a new product for customers in the country. J S Srinivasan, TVS Motors Company Limited Vice President (Sales), reportedly quoted, “For this fiscal we are looking at 10 percent growth; ....Last year, we sold 18 lakh two wheelers, this year we are aiming for 20 lakh units.”
Srinivasan also commented on the current situation of the market. He said, “Domestic market is on par with last year, it is neither growing nor declining, but in the second half it is expected to grow, and particularly rains being good - we expect it to grow.” Notably, he has mentioned about the good rains considering the fact that the rural market of India contributes a healthy 50 per cent to the total volume of TVS. As per the established trends, good rains during the season yield good crop harvest and consequently, rural sales are on the higher side.
Srinivasan mentioned that the current share of the company in the scooter segment is about 14 per cent. Predicting a higher market share in the coming months, he further said, “we expect it to be around 18 percent by the end of this fiscal across the country and 20 per cent in Karnataka.”
Srinivasan, at the time of introducing the new scooter TVS Jupiter, was quoted as saying, “Male segment contributes to 40 percent of the scooter industry, we are not there in the segment; ....With the launch of Jupiter we will be able to pull up our volume in the scooter industry and our market share across the country and Karnataka.” As mentioned by the company officials, this newly launched product will be available for customers living in north, west and east India with immediate effect. However, customers living in southern zone will have to wait till the month of November in order to avail this newly launched two wheeler.
Srinivasan spoke high of the company's newly launched Jupiter. He said that customers will find this product aptly designed and suited for their daily commuting needs. Going in sale figures, he also said, “With the launch of Jupiter, the company expects to sell 50,000 scooters from next month, as against 35,000 units being sold currently.” Notably, the company hopes to sell about 15,000 units of Jupiter by January. With the launch of Jupiter in the Indian market, the scooter segment will see the first-ever introduction of a pass-by switch that aids in safety along with ease of riding on highway roads.
The ex-showroom price of TVS Jupiter in the Karnataka state will be Rs. 48,712. the company seems to be focusing heavily on Karnataka. At present, this state has close to 70 dealers out of a total 850 dealers of TVS across the country, hence, more focus.
