Calcutta, Sept. 13: TVS Motors will introduce a new brand of motorcycle for the top-end customers by the end of this financial year.

It already has an offering in this section ? the premium Fiero priced at Rs 50,000 and above.

Premium segment constitutes only 10 per cent of the motorcycle market in India with the monthly volume logging about 50,000 units.

TVS Motors has about a 4 per cent share of this market with Fiero selling 3,000 units.

In the big-selling economy and executive segments, the company has one brand each, Star and Victor.

R. Chandramouli, senior vice president (sales & services), said the company is yet to take a call on continuing with two brands in the smallest segment of the motorcycle market. “We will decide when we launch the other brand,” he said.

TVS is expecting a 20 per cent overall growth in business this year. During the first five months its sales grew 20 per cent.

It had sold 1.17 million units last year.

Today, TVS launched two variants of Star and Victor brands to pep up sales.

With the launch of the Star City, TVS is hoping to increase its sales to 50,000 units a month from the present level of 30,000.

Moreover, with the new Victor Edge, it is expecting sales of executive segment bikes to go up to 30,000 units a month from 18-20,000 units.

“The new variants will consolidate our existing brands and also create a launch-pad for other brands,” said an official.

Motorcycle industry in the country is heavily skewed in favour of the economy and executive segments.

In fact, the economy segment in the urban market is growing at a phenomenal rate of 40 per cent.

Executive or the middle segment ? at a price point of around Rs 40,000 ? forms the largest chunk of the industry selling about 2,26,000 units.

The entry level ? priced at around Rs 30,000 ? forms the second segment with sales of around 1,70,000 units a month.

TVS had clocked a turnover of Rs 2,900 crore last year.

Today, the company’s stock touched a 52-week high on the bourses. It closed at Rs 91. 95 after touching a high of Rs 94.50 on the National Stock Exchange.