TVS Motor Company is eyeing a bigger share of the two-wheeler market with the launch of TVS NTORQ 125. The two- and three-wheeler major, which introduced its latest scooter here recently, said it expects to sell more than 2 lakh units of the model next fiscal.
Predicting a trend towards growth of the scooter market in India, TVS Motor said the segment, which accounted for 19-20 per cent (about 2.5 lakh units a month) of the two-wheeler market in FY13, has now gone up to 33.5 per cent, or about 5.7 lakh units a month.
Speaking on the sidelines of the launch of its new scooter here, Binoy Anthony, General Manager, Marketing, TVS Motor Company, said: “From the data over the past five years, we are seeing a distinct trend towards increasing preference for scooters in India.
“In fact, this is more pronounced in some markets, with 40 per cent and above, against 33.5 per cent nationwide.”
“We expect to increase our overall market share in the two-wheeler business, both motorcycles and scooters. The scooter segment in particular will grow significantly with the new offering.”
He further said: “Contrary to general perception, our insights show that about 70 per cent of the total scooter sales are accounted for by men. This also brings out a major trend where the scooter segment as a category is growing at a rapid pace.”
He expressed hope that the new scooter, catering to a hitherto unaddressed segment, will significantly add to the sales volumes of the company and increase its market share.