The first quarter has brought some cheer for the Chennai-based two wheeler firm TVS Motor Company with market share increase. It said while it would aim towards third position in the two wheeler market, it hopes to boost overall market share to 14 percent by the end of this fiscal from 12 per cent in FY14, aided by new launches.
"Despite a challenging economic environment, TVS Motor sold 19.9 lakh two wheelers in 2013-2014. We to launch a new product every three-four months," Venu Srinivasan, Chairman and MD, TVS Motor said.
Also read: Seeing early signs of demand revival for auto sector: SIAM
Admitting that there was delay in the new launches, he said: "unless we master the consumer led engineering and quality, we don't want to launch a product. Some of the launches have been postponed due to the success of previous launches." It may be noted that Scooty Zest was scheduled to launch in June this year but it has been postponed to August.
The company, now the 4th big 2 Wheeler firm in India, aims to reach the third position soon. "Competition is going to be very fierce. We are at fourth position. Our target is be in the top three and with a series of launches, we will strengthen our position" he added. This year, it hopes to increase its market share from 12 percent to 14 percent. This is the first time in two years, we have seen an uptake in the market share", Srinivasan added. He estimated that total two-wheeler industry in India is expected to grow by around 11 per cent compared to around 7.4 percent last year.
With poor monsoons this year, the company hopes it will see good improvement between July and August. KN Radhakrishnan, President and CEO, TVS Motors said, "We are hoping that July to August it will revive and will be able to see improvement in monsoon and reservoirs. Definitely, sentiments are low, but I hope the nature will support us with good monsoon.In terms of volume, we will maintain the same kind of gaining of market share."
TVS Motors' exports increased by 14 percent in 2013-14 and hopes to increase it to 25 per cent in 2014-15. Srinivasan said, "Company will focus on emerging markets, especially Africa, South America and Indonesia"
On Indonesian venture, Srinivasan said while the company lost money in its Indonesian arms, TVS Motors is positive about future outlook. "It is a long term strategic investment. We have lost money, yes it is true. But the quality of the product, kind of engineering our company learnt by competing in Indonesia is what created the turnaround of the company in the last three years. Today we are seeing excellent result in India and it is because Indonesia is the outpost from which we are able to gather the trends be it technologies, aspirational styling and that will continue to be true. We are also confident in the next 12-18 months the subsidiary will reach cash break-even," he added
TVS Motors' tock rose 6% today
Anda sedang membaca artikel tentang
TVS Motor to ride on new launches
Dengan url
http://berhentialkohol.blogspot.com/2014/07/tvs-motor-to-ride-on-new-launches.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
TVS Motor to ride on new launches
namun jangan lupa untuk meletakkan link
TVS Motor to ride on new launches
sebagai sumbernya
0 komentar:
Posting Komentar