TVS Motors to launch two bikes in 2015-16 fiscal

Two-wheeler major TVS Motors will launch two new motorbikes during the the first two quarters of the financial year 2015-16.

The new launches include Victor and a high-power premium bike, according to the company.

It also has set a target to increase the market share to around 14.5 per cent in the domestic market sales, and a 15 per cent share in exports during the fourth quarter of the current fiscal, up from the present 13.5 per cent.

The company is betting big on new product launches and increased market penetration.

"In most of the markets we have gained the market share. We see an opportunity to also expand the existing Apache, Jupiter and others," KN Radhakrishnan, president and chief executive officer of TVS Motors, told analysts.

He said the company had been gaining market share on new launches, including Jupiter, Star City+ and Scooty Zest.

On the capacity utilisation, he said, while the total capacity across its three plants was three million units, it was currently operating at 85 per cent utilisation.

TVS is planning to expand its three-wheeler capacity from 10,000 units every month to 15,000 units, over the next six months.

The company had targeted to double its market share in the segment to 20 per cent in the next four months Its market share as of now in the domestic market is 10-11 per cent.Radhakrishnan told analysts increased penetration and the recent introduction of a diesel variant would help the company increase its market share in the segment.