New Delhi: TVS Motor Company is eyeing about 18 percent market share in the country's two-wheeler segment over the next two years on the back of its recently launched products as well as new launches planned in the future.
The company, which today expanded its scooter range with the launch of Scooty Zest 110 priced at Rs 42,300 (ex-showroom Delhi), plans to introduce a couple of new products, including a completely new Apache bike in the next 6-9 months.
"Our market share last year stood at 12 percent. Currently, it is around 13.5 percent. By the end of this year we expect it to touch 14-14.5 percent and in the next two years it should be around 18 percent," TVS Motor Company Vice-President (Sales) J S Srinivasan told reporters here.
The Indian two-wheeler industry stood at over 50 lakh units in the April-July period of this fiscal.
Commenting on the scooter vertical, Srinivasan said with the launch of the new model, the company would start selling 15,000 more scooter units in the next two months.
"Currently, we sell around 60,000 units per month. With the addition of Scooty Zest 110, we will take this figure to 75,000 units in the next two months thereby taking our market share to 18 percent from the current 15 percent," he added.
Srinivasan said the company presently sells 60,000 motorcycle units on a monthly basis, which it expects to increase to 80,000 units during the festive season.
"It will increase our market share in the motorcycle segment by around 1.5 percent from the current 7 percent," he added.
When asked about the progress regarding the development of a sub-500 cc motorcycle with BMW, Srinivasan said: "The development of the motorcycle is going on as per schedule and we will be able to give further details on the project only by the end of next year."
Last year, the Chennai-based firm had inked a long-term pact with BMW Motorrad, the German carmakers bike subsidiary, enabling the Indian company to access German technology to manufacture a series of sub-500 cc motorcycles.
Commenting on the upcoming festival season, Srinivasan said the company expects it to be better than last year.
