TVS Motors is all set to launch five new models in India by December 2014. When other two-wheeler manufacturers are coming up with the new innovative products, then why TVS will lag behind ? Currently, TVS sells few models in India but now have planned to increase its product lineup.
Speaking at the company's annual general meeting at Chennai , Venu Srinivasan, chairman and managing director, TVS Motor Company said, “ poor monsoon has impacted the agriculture output and inflation pressure also resulted people to tighten their spending. People are investing in unproductive areas like real estate and gold,” said Srinivasan, who also stated that in the last three years petrol prices increased by 46%. Due to these factors, the industry reported 2.4% growth as compared to norm of 15%.
Speaking about TVS Motor, he said, “the company reported drop in sales last year, mainly due to lack of product in the executive segment, besides unlike competition launches from TVS Motor was slow,” responding to which Srinivasan said, “the company has been focusing on improving quality.”
TVS Phoenix 125cc vehicle which was launched in December 2012 and TVS Wego had a zero defect, said Srinivasan. The company claims that it has sold around 10,000 units of Phoenix since the vehicle was launched.
Last year domestic volume dropped due to lack of product in the executive segment, which now addressed by Phoenix and their will be a product to fill the space which was vacated by TVS Victor. Besides, the company will also upgrade TVS Scooty, a new scooter for male commuters on the Wego platform and an upgraded version of Star City is also expected.