In a significant milestone, TVS Motor Company on Thursday said its motorcycle sales in the current financial year (2007-08) would cross one million (ten lakh) motorcycles.
The company expects to touch the million mark as a new motorcycle in the executive segment would also be launched in the third quarter.
The two-wheeler major is looking at overall sales of 1.7 million units this fiscal, up from close to 1.5 million in the previous fiscal, the company's President KN Radhakrishnan said in Bangalore, where it launched an upgrade of Apache motorcycle.
Radhakrishnan said the bike in the executive segment in pace of "TVS Victor" would take "significant share" from the market. "With new Apache, we are looking at 25 per cent marketshare of this segment in the current quarter itself", he said.
On the two-wheeler industry in general in India, Radhakrishnan said it's been "pretty bad" in the last few quarters, -- likely to continue in the next 3-6 months -- due largely to tightening of availability of two-wheeler loans.
But he dismissed the trend as a "cyclical one" for the two-wheeler industry which is expected to see upswing again in an year's time.
Radhakrishnan said TVS would grow better than the industry. "Sales in Q3 and Q4 will be significantly better than the first two quarters. Entire growth will come in the second half with better volumes".
TVS reported sales of Rs 3,928.19 crore for 2006-07, up from Rs 3,305.96 crore in the previous year, while net profit dropped to Rs 66.60 crore from Rs 117 crore.