Unnerved by the slowdown in domestic demand for two-wheelers, India's third largest manufacturer TVS [Get Quote] Motor Co on Monday said it expects to maintain a double digit growth in the current fiscal on the back of new products launches. The company would unveil a brand new commuter segment motorcycle in October and a variant of an existing model early next year. TVS on Monday introduced an upgraded variant of its premium bike Apache, Apache 160 RTR, positioned as a sports bike, priced at Rs 58,854 (ex-showroom Delhi).
"The two-wheeler market, which is witnessing a slowdown is expected to bounce back by October. We are hopeful of maintaining a 10 per cent year-on-year growth as we are preparing to launch atleast two new products," TVS Motor Co vice president sales and marketing R Chandramouli told reporters in New Delhi.
The company had reported sales of 1.53 million two-wheelers and expects sales to cross 1.7 million this year. TVS, which cut its bike production by about 5,000 units from 55,000 units a month in June, expects to produce about 60,000 units with the launch of Apache RTR, he said.
Chandramouli, however, declined to divulge details of the new products saying that the new bikes would be positioned in the mass commuter segment. On the exports front, he said, the company expects to register 25-30 per cent growth in overseas sales. TVS had exported over one-lakh (1,00,000) units in the last fiscal.
With rivals like Bajaj upping the ante in the higher-powered segment, TVS is also in the process of developing bigger engine capacity bikes to match competition.
"The direction is yes...we are slowly working towards developing higher powered sports bike," he added.
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