Two-wheeler major TVS Motor expects sales of its Apache series of motorcycles to hit 500,000 units at the end of this fiscal. This would translate into a 25 per cent growth in volume sales over the previous year. The company launched its new Apache RTR 160 4v on Wednesday.
"This (premium motorcycle) industry is growing very fast. We are estimating to sell 500,000 units in the Apache series, which is a growth of around 25 per cent," said K N Radhakrishnan, president and chief executive officer, TVS Motor Company.
He added that the series is finding acceptance in the global market that the new launch today would fuel exports. The company currently exports about 8,000 units of the Apache series per month, while around 33,000 units are sold in India, said company officials.
The premium sports bike segment has been growing at about 10 per cent CAGR (Compounded annual growth rate), and the company has been expanding at 28 per cent, company officials said. TVS Apache is the second largest sports motorcycle in the country. The company has three million racing customers across the world for Apache.
The premium bike segment is currently around 14 per cent of the overall two-wheeler market and in the motorcycle segment, it owns a 25 per cent market share.
The Apache RTR 160 4v launch is expected to help it expand the segment. The Delhi ex-showroom prices starts at Rs 81,490 and goes up to Rs 89,990 for the model launched on Wednesday.