TVS Motor Company would roll out its bikes from Indonesia plant this month eyeing a first year sales of up to 90,000 units in that market amidst plans to spread its wings in the South East Asian region.
TVS should be prepared for a rough ride as Bajaj Dominar, Mahindra Mojo, Royal Enfield Classic 350 and many others are stepping on the gas for a slice of this category.
With sentiment for the automotive (auto) sector turning positive, stocks of two-wheeler auto majors have been hitting their 52-week highs. Hero MotoCorp, Bajaj Auto, TVS Motor Company, and Eicher Motors recently reached their yearly highs on strong sales in the festival season and the expectation of faster growth rates ahead. Since the start of this month, listed two-wheeler majors have delivered returns in the 12-17 per cent range, compared to the 7 per cent gains for the S&P BSE Auto Index and 3 per cent for the benchmark S&P BSE Sensex.
Tata Motors is likely to exit the S&P BSE Sensex and the Nifty50 indices once the demerger process of its commercial vehicle (CV) and passenger vehicle (PV) businesses is complete, analysts at Nuvama Institutional Equities said. They have compared the development with Reliance Industries (RIL) and Jio Financial Services, which got listed separately and eventually (in the next few days) got excluded from the domestic indices.
Passenger vehicle sales in India kicked off on a flat note in new fiscal 2024-25 with 3.38 lakh units sold in April, impacted by high base effect and muted demand due to the ongoing general elections. Dispatches of passenger vehicles from manufacturers to dealers were at 338,341 units in April 2024 as compared to 332,468 units in the same month last year, a growth of 1.77 per cent with major players Maruti Suzuki India, Hyundai and Tata Motors reporting marginal growth in their domestic wholesales.
Hyundai Motor India Ltd has become the country's fifth most valuable auto firm by market valuation in its debut trade on Tuesday. Shares of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, listed at Rs 1,931, reflecting a decline of 1.47 per cent against the issue price of Rs 1,960 on the BSE earlier in the day. The stock slumped 7.80 per cent to Rs 1,807.05 during the day and finally ended at Rs 1,820.40 apiece, down 7.12 per cent.
Recognised as one of the Stars of Asia by Business Week International, Venu Srinivasan, the chairman and managing director of TVS Motor Company.
A slew of new products in the mid-segment line-up like Star City Plus and Victor, an agreement with global brand BMW to launch new range of bikes and a strong marketing push is what the Chennai-based automaker has up its sleeves to take on established players in the two-wheeler market.
The company said the new model would be available for sale in sugarcane-producing Maharashtra, Uttar Pradesh and Karnataka, to begin with.
TVS Motors Company Limited will launch one new model and two variants of existing models during the next financial year to increase its market share in two-wheeler segment to 22 per cent from 20 per cent at present.
TVS Motor Company has reported a 30 per cent decline in its motorcycle sales during November 2003 at 48,052 units compared to 68,631 units in the same month last year.
With this new product, TVS Motors intends to bridge the price gap between the company's range of mopeds and motorcycles.
The company, which started export of its three-wheelers a couple of months back, is also exploring to venture into new markets like Bangladesh, Mexico, Peru and Guatemala.
Bajaj Auto has become the top player in India's electric vehicle market by monthly volumes, across all categories, with over 25,000 sales and registrations in September. This comes on the back of a big push in expanding distribution by the company and steady demand of electric three-wheelers. In September, the company - according to the latest Vahan data - recorded sales of 17,570 electric two-wheelers, 4,575 three-wheelers, and 3,000 Yulu low-speed electric bikes (based on company sales numbers), which do not require a licence and are not registered on Vahan.
Clearly, some of the bullishness of the early days has gone missing. Ola's market share is slipping amid rising competition from incumbents like Bajaj Auto and TVS.
The net sales drop was due to a decline in motorcycle sales following the credit squeeze by banks and the consequent reduced availability of finance.
India's incumbent two-wheeler players, led by TVS Motors, are flexing their muscles, having crossed the registration of 10,000 electric two-wheelers for the first time in November this year, according to data from Vahan, the website of the ministry of road transport and highways. The two key incumbent players, TVS Motors and Bajaj Auto, now account for around 15 per cent share of registrations in the month of November. The number will only go up with Hero MotoCorp now joining the bandwagon with its Vida range of electric scooters.
The company is targeting countries like Germany, Italy, France, Spain, Portugal, and the UK which account for over 70 per cent of Europe's two-wheeler volumes.
The company is also planning to set up a manufacturing subsidiary in one of the south Asian countries.
Leading carmakers Maruti Suzuki and Hyundai on Thursday reported a dip in wholesales in July as companies reduced vehicle dispatches to dealers amid moderation in demand. Maruti Suzuki India said its total domestic passenger vehicle sales stood at 137,463 units in July against 152,126 units in the year-ago month, down 9.64 per cent.
TVS Motor Company plans to launch about eight two-wheeler models, including six motorcycles in the next 15 months in an aggressive bid to increase its share in the world's second largest two-wheeler market.
Lakshmi Venu, granddaughter of T S Srinivasan (TVS) and A Sivasailam (The Amalgamations Group), is managing director of Sundaram Clayton Limited (SCL) and director of TAFE Motors and Tractors Limited (TMTL).
The Tata Trusts, led by the Sir Ratan Tata Trust and the Sir Dorabji Tata Trust, hold a 66 per cent stake in Tata Sons, the Tata group's holding company.
Auto majors Maruti Suzuki India and Hyundai reported muted sales performance in October as the companies curtailed dispatches to dealers in order to cut inventory build up.
Five firms, including ACC Ltd, HDFC Asset Management Company and FSN E-Commerce Ventures that runs Nykaa, will be dropped from Nifty Next 50 index from September 29. NSE Indices Ltd, an arm of the National Stock Exchange, on Thursday said that Indus Towers and Page Industries will also be dropped from the index. Punjab National Bank, Trent, Sriram Finance, TVS Motor Company, and Zydus Lifesciences will be included in the Nifty Next 50 index, NSE Indices said in a statement.
Geopolitical developments between India and Pakistan, quarterly earnings and macro data will be the key drivers of stock markets in the holiday-shortened week, say analysts.
In the two wheeler segment, TVS Motor Company reported a 24 per cent increase in total sales at 304,795 units in April.
Hero MotoCorp, India's largest two-wheeler maker, has seen a decline in its market share in rural areas since 2018, losing ground to major competitors such as TVS Motor Company, Bajaj Auto, and Honda Motorcycle & Scooter India (HMSI), according to data from JATO Dynamics reviewed by Business Standard. Hero's share of rural two-wheeler sales in India has dropped from 40.4 per cent in 2018 to 33.3 per cent in 2023. In contrast, Bajaj's share increased from 12.7 per cent in 2018 to 13.9 per cent, HMSI's from 21.8 per cent to 22.2 per cent, and TVS' from 15.5 per cent to 17.8 per cent. Suzuki Motorcycle India has also seen its share rise from 1.7 per cent to 2.5 per cent.
Though academically well qualified, doesn't have enough experience, says the firm.
The stand-off between Bajaj Auto and TVS Motor Co over the alleged patent infringement continues with both the companies sticking to their positions.
The TVS family has been engaged, for more than a century, in a diverse range of businesses through various entities in which the branches of the TVS family have invested in or through T V Sundaram Iyengar & Sons, Sundaram Industries, and Southern Roadways - collectively referred to as the TVS Holding Companies.
Ola Electric's latest MoveOS 5 upgrade delivers sharper performance on its Gen 3 platform due to an optimised in-house Motor Control Unit that enhances range and responsiveness.
However, while Splendor's annual sales surged 31.7 per cent to 3.638 million units between 2019 and 2024, Hero's other models suffered sharp drops.
Passenger vehicle wholesales saw a marginal growth of 4 per cent in June on account of high base effect and muted demand due to severe heatwave conditions in several parts of the country. Overall passenger vehicle dispatches last month stood at 340,784 units, a growth of 3.67 per cent compared with 328,710 units in June 2023.
Bajaj Auto had accused TVS Motor of infringing its patent on DTS-i -- acronym for Digital Twin Spark Plug ignition -- in TVS Flame. TVS, in its latest 125 cc motorcycle Flame, uses CCVTi technology which Bajaj claims to be a copy of its DTS-i technology. The Pune-based two-wheeler maker uses DTS-i technology in various products including the Pulsar series of bikes.
The Chennai-based company is developing bikes in the range of 200cc and above to compete with Bajaj Auto's Pulsar range, which begins with the 150cc variant and ends with the 220cc model at the top of the ranks, sources, who declined to be identified, said.
Truck movements across the India-Bangladesh border are on the rise, with increasing rentals signalling a trade recovery between the two South Asian nations. Yet, geopolitical tension looms large, with Bangladesh now under an interim government for nearly two months.
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