TVS to launch new model

TVS Motors Company Limited will launch one new model and two variants of existing models during the next financial year to increase its market share in two-wheeler segment to 22 per cent from 20 per cent at present.

The company is also expecting to double its export turnover to Rs 250 crore (Rs 2.50 billion) next fiscal from Rs 125 crore (Rs 1.25 billion).

"We expect our two wheeler market share to go up to 22 per cent by the end of next fiscal from 20 per cent and in motorcycles to 20 per cent from 17 per cent at present," TVS vice-president (sales and marketing) R Chandramauli told reporters in Kolkata.

Chandramauli, who was in the city to announce the launch of the company's newly introduced Centra with VT-i engines, said: "The two-wheeler market is actually booming. The company's market share is much better because of the Max range."

"Next year we are expecting 20 per cent growth in volume even through there was not much growth during the current year because we did not introduce new models. Even Centra came towards the end of the year, but it would be available right through the next year," he said.

Chandramauli said they would also launch a variant of Victor and "one more."

About exports, he said, "Exports is likely to double to Rs 250 crore next fiscal from Rs 125 crore at present. We are selling our products in Bangladesh, Sri Lanka, Africa and South America apart from Middle East where requirement is not much."