It is no secret that South India based Indian two wheeler maker TVS Motors is witnessing a drop in its market shares. However, it recently emerged that the bike maker is now betting on several new upcoming bikes to revitalize its sales performance.
It may be noted that last year saw TVS Motors dropping to the fourth place (from third) on the sales chart and its revenues dipping to Rs 7,065 crore ( from Rs 7,142 crore).
“New launches from Hero and Honda have eaten into our share. We hope to do better this year with more products,” said Venu Srinivasan, Chairman and Managing Director, to shareholders at the annual general meeting.
TVS Motor would be seen coming out with as many as six new bikes by December 2014. The list of upcoming TVS products includes a new bike in the executive segment, an -upgraded Star City motorcycle, an upgraded Scooty and a new Wego-based scooter that will target the male audience. It may be noted that the Wego-based scoot in question has been spotted on numerous occasions and looks like it isn’t too far from being launched.
TVS Motors also has high hopes from its Phoenix commuter bike. The Phoenix was launched late last year and has seen a good response from the market. So far, TVS Motors has sold 10,000 units of the Phoenix.
TVS Motor would be seen investing Rs 150-175 crore this year, most of it for the development of the upcoming new products.
It would be interesting to see if the new products would revive the fortunes of the two wheeler maker. Also, we would like a bigger Apache to be a part of the list of the upcoming six bikes.