|J.S. Srinivasan in New Delhi on Wednesday. (PTI)
New Delhi, Sept. 18: Chennai-based TVS Motor Company is targeting an over 10 per cent growth in domestic two-wheeler sales this fiscal.
The company, which today launched the TVS Jupiter at Rs 44,200 (ex-showroom Delhi), is eyeing a 20 per cent market share in the domestic scooter segment.
“Last year we sold a total of 18 lakh two-wheelers in India. This year we are looking at 20 lakh units,” J.S. Srinivasan, vice-president, sales, TVS Motor Company, said. ‘
He said the company expected sales to be good in the coming months, including the festive season, as rains have been good this year which will boost rural sales. The rural region accounts for 50 per cent of the company’s two-wheeler sales.
Both two-wheelers and four-wheelers have been facing a demand slump on account of the economy slowdown, high interest rates and fuel prices.
Srinivasan said the company would have presence in a niche youth segment with the Jupiter. The company expects to sell 50,000 scooters from next month against 35,000 units being sold currently.
“With this launch, we are now well positioned to cater to the entire value chain in the scooter segment. Earlier we were just catering to 60 per cent of the market,” he said.
“Our current market share in the scooter segment is 14 per cent of the 2.7 lakh market. With the launch of Jupiter, we expect our market share to increase to 20 per cent of the 3 lakh market by next year,” he said.
The current leader in the scooter segment is Honda Motorcycle & Scooter India.