Indian motorcycle manufacturer TVS is planning to bring two new models into the market this year. One would be a new bike for the commuter segment and the other will be a refreshed new design of the Apache.
Being the third largest two wheeler manufacturer in India, TVS is looking to increase its market share and hike up their sales to 60,000 units after the new bikes are introduced.
K.N.Radhakrishnan, President and CEO said that these two new products will enhance their top line and also their market share. He also said that the company is looking to strengthen their Phoenix product line and will come up with new products in the next six months time.
The Phoenix range is part of the commuter segment, with an engine displacement of 100-125 cubic centimetres. The Phoenix is expected to have a displacement of 115 cc.
The CEO, Radhakrishnan said that the new Apache will be in the market around March or April with major changes that he would not disclose.
TVS has a capacity to produce 2.8 million two-wheelers annually and makes 2,30,000 units per month. Out of these units manufactured, about 1,70,000 units are sold in the domestic market and the others are exported.
The company currently has 900 dealers and 3000 sub-dealers and the company adds about 5 to 6 percent to the network every year. TVS has grown 30 percent in the last four months.
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