TVS Motor Company, India’s leading two-wheeler manufacturer, expects to increase its market share in the scooter segment from 15 percent to 18 percent in two months.
The company, which launched TVS Scooty Zest 110 in Hyderabad on Thursday, is looking at monthly sale of 75,000 scooters, up from current level of 60,000. The total volume of the scooter market in the country is 3.5 lakh per month.
TVS vice president, sales, said they expect a growth of over 30 percent in the overall sales volume during the current financial year. This is driven by a robust growth in the country’s two-wheeler market and the new launches by the company.
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The firm, which launched several models so far, plans two more later this fiscal. “The scooter range has been positioned to address different segments, such as Jupiter for male, TVS Wego as a sleek two-wheeler for husband/wife and the Scooty for young women,” he said.
TVS also plans to roll out two more motorcycles during the year. These include a commuter segment bike and another in the performance category.
The company sold about 17.5 lakh two-wheelers in the domestic market last year and expects this number to surpass 22 lakh mark.
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The scooter segment is growing at a higher rate than the two-wheeler industry. The growth in the segment last year was 24 percent and in the first five months of this fiscal it was 30 percent, double than the growth in the two-wheeler industry.