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TVS Will Expand Three Wheeler Business
TamilNadu State Govt had annulled a 12 year ban on the issue of new permits to meet the growing need for public transport and has decided to issue 8,000 new permits out of which 3,100 autorikshaw permits are for Chennai region and 4,900 permits for rest of Tamil Nadu.
Being a local manufacturer, TVS enjoys favor from the localites and hence hoping to gain a 20% market share out of the new market that has come up now. Marketing President HS Goindi stated that the capacity is the only major constraint for TVS to cater to the new huge demand that is set to emerge following the issue of new permits. He also added that it will take time for the permit holders to tie up finance and decide on the model purchase. And TVS is geared to cater to new demand. Most of the Indian states are now issuing new permits which in turn augurs well for the company, he said.
The recent sales records indicates that TVS has vastly improved in the three wheeler business selling 3,108 units last month. The cumulative three wheeler sales for April-July stood at 10,907 units. With more demand for public transport from state governments, TVS King will foray into many states in coming months.
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