TVS Motor aims for 10% sales growth during the fiscal

Current market share of the company in scooter segment is 14%

With new product offering, Chennai-based TVS Motor Company today said it aims to achieve 10% growth in total domestic two wheeler sales during the fiscal.

"For this fiscal we are looking at 10% growth; ....Last year, we sold 18 lakh two wheelers, this year we are aiming for 20 lakh units," TVS Motors Company Limited Vice President (Sales) J S Srinivasan told reporters here.

"Domestic market is on par with last year, it is neither growing nor declining, but in the second half it is expected to grow, and particularly rains being good - we expect it to grow," he said.

Rural market contributes to 50% of TVS's volume; during the seasons when there are good rains and quality crops, rural sales are higher.

Stating that the current market share of TVS in scooter segment is 14%, Srinivasan said, "we expect it to be around 18% by the end of this fiscal across the country and 20% in Karnataka."

Earlier, introducing its new scooter TVS Jupiter, he said "male segment contributes to 40% of the scooter industry, we are not there in the segment; with the launch of Jupiter we will be able to pull up our volume in the scooter industry and our market share across the country and Karnataka."

According to company officials, the newly launched product will be available in most parts of north, west and east India immediately from this month, and in south by November.

 Srinivasan said, "With the launch of Jupiter, the company expects to sell 50,000 scooters from next month, as against 35,000 units being sold currently." "Out of which 15,000 will be Jupiter by January," he added.

For the first time in the scooter segment, TVS Jupiter will come with a pass-by switch, which enables safety and ease of riding on highways, the company said. Ex-Showroom price of Jupiter in Karnataka will be Rs 48,712.

TVS has 850 dealers across the country of which close to 70 are in Karnataka, company officials said.