TVS Motor Company plans to launch eight two-wheeler models, including six motorcycles in the next 15 months in an aggressive bid to increase its share in the world's second largest two-wheeler market, its president CP Raman said on Tuesday.
The Chennai-based firm expects the new two-wheeler models to drive sales up by about 39 per cent to about 1.6 million units during 2004-05. It is also working on its maiden passenger carrying petrol three-wheeler, which would be launched next year, Raman told PTI.
Besides, the company hopes to set up a manufacturing facility in Indonesia or Philippines by June 2005, he said in an interview.
"During the fiscal ending March 31, 2004, we should sell about 1.15 million two-wheelers, including about seven lakh motorcycles. Next fiscal, the sales should increase to nearly 1.6 million units," Raman said.
The sales of 1.15 million two-wheelers this fiscal would be a 4.5 per cent growth as compared to 1.11 million vehicles sold in 2002-03.
TVS Motor, which separated from an equity and technical alliance with Japan's Suzuki Motor Co about two years back, witnessed increasing sales of its motorcycles after the launch of the 110cc 'Victor' model.
{{/usCountry}}TVS Motor, which separated from an equity and technical alliance with Japan's Suzuki Motor Co about two years back, witnessed increasing sales of its motorcycles after the launch of the 110cc 'Victor' model.
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