TVS to launch new product every quarter

With a gradual increase in market share, TVS Motor Company has now set its sights on grabbing the third position in the two wheeler market and plans to introduce a new product every three months. With these new launches, the company hopes to boost overall market share to 14 per cent by the end of the current financial from 12 per cent in 2013-14.

Venu Srinivasan, Chairman and MD, TVS Motor Company is quoted as saying that TVS will announce a new product every three-four months. As compared to its industry peers, TVS has often been under the scanner for not launching new products frequently.  The company however maintains that the long gap between launches is ‘by design and not by accident’. 

This is seen more as a measure by TVS not to have its own products eating into each other’s market share than anything else.  As a result, the launch of Scooty Zest, scheduled for June, has been pushed to August. This was due to the launch of Jupiter, which has seen some success, but the company has not been able to meet market demand. Similarly, the Star City’s success has pushed the launch of Victor to December from September.

TVS Motor Company registered a 23 per cent growth in the first quarter of the financial year, with scooter sales alone posting an impressive 46 per cent growth. And as part of strengthening its position in the two wheeler industry, the company plans to introduce several brand new launches as well as foraying into new overseas markets.

TVS Motors’ exports increased by 14 per cent in 2013-14 and the company hopes to increase it to 25 per cent in 2014-15. TVS Motor Company has already entered the Myanmar market in 2013-14 and the company has ambitious plans to expand its footprint in other emerging markets, particularly in Africa, South America and South East Asia.