Hosur, Jan. 18: Riding high on the success of Victor, TVS Motors is now planning to launch more models and upgrade the existing ones in order to strengthen its hold on the two-wheeler industry.
Announcing the company’s plans, TVS Motors managing director Venu Srinivasan said the company will unveil a brand new motorcycle later this year. Though Srinivasan declined to give details, he said the new model will “not be a fringe, limited product,” but one that records huge volumes, betraying his optimism that the upcoming model’s success would mirror that of Victor.
The new model will be part of the grandiose plan of the company to unleash four to five models every year and enter into the lucrative Asean markets.
TVS is also upgrading Victor that will see the popular model coming up with substantial improvement. Sales of Victor have now gone past the 300,000-mark and the model, according to Srinivasan, has been successful in raising the company’s market share in the challenging motorcycle segment.
TVS Motors’ market share in this sector is now at 19 per cent. “When we broke off with Suzuki, there was lot of scepticism. However, we made the most successful domestic motorcycle in the country. Victor’s success shows that we can make product of international quality,” he said.
Apart from an improved version of Victor later this year, TVS Motors is also looking at a new version of the Fiero, where it is facing a tough competition from Pune-based Bajaj Auto.
In scooterettes, too, where the company is a market leader with a share of 35 per cent and annual sales volume of 143662 units, TVS is planning two more variants of the popular Scooty.