New Delhi: TVS Motor Company today said that the company expects to increase its overall market share in two-wheelers this year from 13 per cent to over 14 per cent.
This growth will be possible riding on the launch of two new models, Phoenix and Jupitor, introduced last year, and the Star City Plus, all expected to contribute significantly to the overall volumes.
The two-wheeler industry averages about 13 lakh units per month, and of this, nine lakh come from the sale of motorcycles. The overall market is expected to go up to about 14 lakh units per month.
TVS Motor averages about 1,65,000 units per month, which includes 65,000 mopeds, 50,000 each of motorcycles and scooters. This number is expected to go up to about 1,85,000 units per month, thereby taking the market share to 14 per cent, J.S.Srinivasan, Vice President, Sales, TVS Motor Company, said.
Addressing a press conference here after the launch of TVS's new commuter segment bike TVS Star City Plus, he said that the increase in volumes would be mainly from the new family of two-wheelers, Phoenix, Jupitor and Star City Plus, all expected to add to the overall numbers.
“The two-wheeler industry is expected to grow by about 10 per cent this year, if the performance for first few months is any indicator. But at TVS, we expect to see a growth of about 25 per cent in the domestic market due to increase in volumes from new models,” he said.
The 110 cc Star City Plus kick start version is priced at Rs. 42,434 and the electric start option at Rs. 44,900 ex-showroom here.
Referring to exports, which witnessed a growth of about 30 per cent last year, he said that the company was averaging about 25,000 units a month. The volumes are expected to go up during the year.