TVS targets double-digit growth this yr

TVS Motor Co is eyeing a double-digit growth this fiscal on the back of new product launches.

The company on Monday unveiled 180 cc Apache in the premium bike category. Its other scheduled launches for this fiscal include the refurbished 125 cc Flame SR 125, followed by another executive bike and a new scooter.

HS Goindi, head of sales, service and marketing at TVS, said the company was looking to consolidate its market share for its existing products and generate growth through new launches.  The new Apache, which offers 17.3 ps power and can go from 0-60 kmph in 4.15 seconds, is expected to add about 2,000 units per month to the company’s overall bike sales. The bike has been priced at Rs 64,990 (ex-showroom, except in Delhi).

Goindi, however, refused to comment about the company’s 125 cc Flame, which comes with the ‘disputed’ twin spark plug technology. TVS and Bajaj Auto have been locked in a legal battle over the twin spark plug technology. But sources said TVS may eventually decide “not to launch” the twin spark plug Flame. Last week, the Supreme Court permitted TVS to manufacture Flame with twin spark plugs, but restrained it from selling the bike, deferring the next hearing to August.  At present, Flame comes with a single spark plug and the new model comes at the old price, but with some minor improvements. To a question if TVS  plans to develop an electric two-wheeler and a hybrid, Goindi said the company already sells few electric two-wheelers and the hybrid model is still being developed.

TVS claims 11-12% share of the bike market, 30% of the scooter market and an overwhelming majority in mopeds. 
 
The company has a manufacturing capacity of two million units, of which only about 1.4 million is being used currently.