Business Daily from THE HINDU group of publications
Thursday, Oct 15, 2009
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Business Daily from THE HINDU group of publications Thursday, Oct 15, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Marketing
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Outlook TVS Motor hopes to sell 20,000 autorickshaws this year Our Bureau Bangalore, Oct. 14 TVS Motor, which recently launched its 200-cc four-stroke autorickshaw, expects to sell 20,000 three-wheelers by the end of the year and plans to ramp up exports to some Asian, African and Latin American countries. The company has invested over Rs 120 crore in a new manufacturing plant with an installed capacity of 1 lakh vehicles a year. It said annual sales would touch 1 lakh units in three-four years. “At the end of three-four years, autorickshaw sales would account for about 15 per cent of the total business of the company,” said Mr H. S. Goindi, President, Marketing, TVS Motor. “At that time, we expect our market share in India to be 50 per cent.” He was speaking at the launch of TVS King LS autorickshaw hereLast month, TVS Motor exported 96 autorickshaws. In the next six to eight months, it plans to ramp up exports, said Mr Goindi. The markets include Sri Lanka, Bangladesh and some African and Latin American countries. He said TVS Motor has two-wheeler distribution networks in these countries and exports would depend on issues such as regulations and permits in these countries. The company also plans to launch a motorcycle and a gearless scooter in December or January. However, it declined to give more details on the new vehicles. It expects double-digit growth for the full year. Mr Goindi said exports are expected to improve in the next couple of months as the severity of the impact of the global economic meltdown wanes. Export inventories are getting cleared, he added. More Stories on : Outlook | HCV/LCV/Tractors
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