‘Will help us get past the sag in market share’
Looking to make a come-back in the executive segment and regain its market share in the two-wheeler industry, TVS Motor Company launched its second 125-cc motorcycle here on Friday.
Dubbed the ‘Phoenix’, the company is hoping to make up for lost time, as its last attempt at the segment (the ‘Flame’) didn’t take off too well, with TVS losing out to Honda, Hero Motor Corporation and Bajaj Auto.
“This is an important step in increasing our presence in the executive segment, which accounts for 40 per cent of the market. We have been completely absent in the Rs. 50,000 – Rs.60,000 range. With this launch, we hope to remedy that and make an impact,” said Venu Srinivasan, Chairman, TVS Motor Company, adding that the executive segment was estimated at 1.6 lakh units.
“I think it speaks for itself that our market share is coming from just 60 per cent of the market, the entry and high-level segments, and the Phoenix will help us get past the sag in our market share,” he added.
The 125-cc segment at this point is seeing tough competition, especially from the Hero’s ‘Passion’, Honda’s ‘Shine’ and Bajaj’s ‘Discover’.
The TVS Phoenix is priced at Rs. 53,000 ex-showroom, with its engine being used as one of the two major platforms for all vehicles in the future. The company claims that the Phoenix has a mileage of 67kmpl, under standard testing conditions.
According to Mr. Srinivasan, the company would have a product launch every quarter, with the re-booted ‘Victor’ coming out next August.
“We might have had a few missteps, but we are now looking at four more product launches by the end of 2013. The new Victor will go into production in June and be rolled out nine months from now. This will also include at least two new scooters in the next one year,” he said.