TVS Motor is the third largest two-wheeler manufacturer in India, with a revenue of about 13,363.43 Cr INR. The company has annual production capacity of 3.2 million 2 wheelers & 1.2 Lakh 3 wheelers.
TVS Motor Company Ltd member of the TVS group, is the largest company of the group in terms of size and turnover.
In the month of April-February, a Chennai based TVS Motor Corp have achieved another milestone in the scooter segment by surpassing Hero Motor Corp to become the country’s second largest scooter seller in the fiscal year 2016/17.
During the same period around a year back, Hero Motor Corp had sold 2, 10,876 units, thereby, registering a fall by a meagre of 0.51 percent.
According to the latest data from SIAM or the Society of Indian Automobile Manufactures, TVS sold about 7, 43,838 units during the April 2016 till February 2017 period growing by 5.07 percent year over year.
On the other hand, Hero’s scooter sales contracted by 1.64 percent down to 7, 19,987 units compared to 7, 31,967 units in the same period the prior the fiscal year.
On this great achievement, Aniruddha Haldar, the Vice President of Marketing (Scooters), TVS Motor Company said, “To keep the growth momentum going, we have exciting plans lined up in the scooter segment. The Company recently introduced fresh colours for both TVS WEGO and TVS Jupiter with the latter offering the most colour selections in the entire scooter segment. We have also launched a new matte colour series for TVS Scooty Zest 110 and new colours for TVS Scooty Pep+ as well. Additionally, we will be launching an all-new new scooter this fiscal.”
This thankfully is only because of their most popular ‘Activa’ range of scooters.
During the same April-February period, Honda Motorcycle and Scooter India sold a total of 29, 34,794 units of scooters compared to 25, 44,872 units in the same period in a year prior the fiscal year.
The two-wheeler manufacturer registered an impressive 15.32 percent of sales growth in the scooter market.
TVS Motors current has a total of four scooters on offer, which are the Scooty Pep Plus, Wego, Scooty Zest and Jupiter.
All of these scooters are pretty popular in the domestic market.
On the other hand, Hero Motor Corp has a total of three offerings in the segment, which are, Pleasure, Duet and Maestro Edge respectively.
However, the Honda Activa has been the bestselling model in the Indian scooter market till date.
Lastly, the industry experts believe that the key drivers for the change in consumer behavior and such major shift are due to two main factors, contextual and product.
Image Courtesy: TVS Motor Company Ltd