Business Daily from THE HINDU group of publications
Tuesday, Oct 13, 2009
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Business Daily from THE HINDU group of publications Tuesday, Oct 13, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Marketing
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Outlook TVS Motor eyes 50% of 3-wheeler market The 4-stroke LPG three-wheeler vehicle, TVS King Arjun, will be rolled out of Mahabharat Motor’s Uluberia factory The company would roll out 400-500 auto rickshaws, co-branded with Mahabharat Motors Our Bureau Kolkata, Oct. 12 TVS Motor Company Ltd is eyeing 50 per cent share of the country’s three-wheeler market in three years to become the dominant player in the segment, according to its President (Marketing), Mr H. S. Goindi. Its present market share varies between 10 and 40 per cent across the country. Launches 4-stroke vehicleAddressing mediapersons on the sidelines of the launch of its four-stroke LPG three-wheeler vehicle, TVS King Arjun, to be rolled out of Mahabharat Motor’s Uluberia factory, here on Monday, Mr Goindi said, “We plan to ramp up three-wheeler production and the segment is expected to contribute nearly 15 per cent to our total revenue in three years.” TVS Motors has entered into contract manufacturing arrangement with Mahabharat Motors. AutorickshawsNearly one lakh autorickshaws are sold in the country annually and the market size of the segment is nearly Rs 1,000 crore. The industry has grown by nearly 20 per cent this year so far. TVS manufactures auto-rickshaws from its Hosur factory, which has an installed capacity of one lakh three-wheelers. The company has been selling nearly 1,200 three-wheelers a month. The company would roll out 400-500 auto rickshaws, co-branded with Mahabharat Motors from Uluberia initially in the SKD format, Mr Goindi said, adding that full assembling may take place from the factory in four-five months depending on demand from the region. 2-wheelersThe factory, which is also expected to roll out in four-six weeks two-wheelers of the TVS Star City and Sports range, would have an installed capacity for 20,000 three-wheelers and one lakh two-wheelers. The vehicles might also be sold in the neighbouring States, Mr Goindi said, adding that it planned to take up 25 per cent market share in West Bengal in four-five months. TVS has so far invested Rs 120 crore in the factory. The company also plans to launch its three-wheeler in Delhi, Punjab, Haryana and Rajasthan by December. It has already launched the vehicle in Tamil Nadu, Maharashtra, Kerala, Karnataka, Andhra Pradesh and Gujarat since its introduction a year ago. TVS recently started exporting three-wheelers, Mr Goindi said, adding that it planned to ramp up exports to Sri Lanka, Bangladesh, Peru, and Egypt. Last month, it exported 100 vehicles. The in-house vehicle-financing arm of the company, expected to start operations in about two months, might also fund three-wheelers at a later stage, he said. More Stories on : Outlook | HCV/LCV/Tractors | New Products & Services
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