TVS Motor aims at launching 3-4 new products every year as a part of its aggressive strategies for becoming one of the top five global motorcycle manufacturers by 2020.
2015 was a very good year for TVS Motor with its sales chart climbing up every month along with a 4 percent growth in December. The company aims at keeping up the progress with a set of aggressive strategies that are being implemented since the past five years. It recently entered into a partnership with BMW Motorrad and the duo unveiled their first product called the BMW G310R at the EICMA motor show last year. TVS aims at becoming one of the top five global motorcycle manufacturers by 2020.
As part of its plan, TVS will concentrate on products below 250cc which will be sold in markets like South and South East Asia, South America and Africa. A branding campaign, put together by an European firm which has also helped Volkswagen, will begin this year. The manufacturer aims at rebuilding its brand while establishing a relation between the Horse logo and TVS in people’s mind. The Indian automaker is making huge investments for development of new products like the Apache RTR 200 and the Victor that were developed at a cost of Rs. 300 crores.
In addition to this, TVS is developing its portfolio very strategically with enough products in all the segments. The automaker recently launched the Apache 200 in the performance segment and the new Victor for the budget commuter segment. It aims at launching 3-4 new products every year in order to widen its product range. The performance oriented vehicles will be aimed at urban areas while the commuters will take on rural areas and the premium segment will have products between 160-300cc.
The Apache RTR 200 is expected to sell 7000 units a month and the Victor is expected to sell 25,000 units a month by Diwali and 40,000 units a month within a year. The automaker targets to acquire a 15.5 percent market share by the end of Q4 which is expected to increase by up to 18 percent by Q4 next year. The company has registered a growth in sales even in December when all the manufacturers including the leader Hero Motocorp were facing a negative movement on the sales chart, this proves the effectiveness of these strategies.
