Despite challenging times and sales pressure, TVS Motor will make a slew of launches, including a bike, in the fastest growing executive segment — where it lacks products except Phoenix — to take on competition. The company will also launch new scooters. At least five products will be launched between now and the end of 2014, TVS Motor CMD Venu Srinivasan said on Friday.
For the quarter ended June, TVS Motor has reported a 11.33% decline in the two-wheeler segment to 451,811 units. However, it witnessed a whopping growth of 115% in the three-wheeler segment to 16,575 units during the quarter.
Speaking at the annual general meeting, Srinivasan said, “The two-wheeler industry has been under pressure for some time and ended up with 2.4% growth in the last fiscal (March 2013) against 15% growth in the previous fiscal. Despite that there has been a moderate growth in Q1 of current fiscal, and it is expected that the industry may end up with a 5% decline owing to monsoon impact, inflation pressures and volatile petrol prices.”