Mysore, Feb. 6: TVS Motor Company today launched a gearless scooter along with a 150 cc bike even as it eyed a sharp rise in sales in the country’s booming two-wheeler market.
The 75 cc, TVS Scooty, along with the Fiero F2 could help the firm take on its competitors, which includes Kinetic Motor, Bajaj Auto, LML Ltd and Honda. While TVS Scooty has been priced at Rs 29,600 the 4-stroke, 12 BHP Fiero F2 has been pegged between Rs 45,000-47,000.
Venu Srinivasan, chairman and managing director, said the two models together will sell around 17,000-22,000 units a month.
“We hope to have a 22-23 per cent market share in two wheeler sales next financial 2003-04 from the current 19 per cent,” said Srinivasan.
He said the company expects to sell around 14 lakh two-wheeler units, both geared and non-geared, in the 2003-04 financial year.
The company expects to register around 11-12 lakh two-wheeler sales in 2002-03. Among these seven lakh are motorcycle sales, 2.4 lakh are mopeds, 1.7 lakh scooters.
“Most of the growth will come from the sale of motorcycles,” Srinivasan said. “We plan to introduce six range of bikes and scooters, including a ‘volume’ bike in the 2003 calendar year.”
A senior firm official told The Telegraph, the ‘volume’ bike will be a low-cost one and in the 100 cc range. But, Srinivasan declined to comment on the specifications of the bike. “It’s too early to say,” Srinivsan said.
Srinivasan also said the firm will invest around Rs 200 crore each year over the next three tears in research and development and on sales and promotional activities.