TVS Motor, the Chennai based motorcycle maker, has witnessed not-so-good times in the past few couple of years with a significant loss in the market share in Indian auto market. The situation was further worsen by no new launches, which also eroded the wealth of shareholders. Reason cited by the auto maker for its declining market share was the absence from lucrative executive segment, which is presently ruled by Hero, Honda and Bajaj Auto.
However, the company is trying to offset all the issues and has pinned great hopes with its newly launched Phoenix 125 cc. The Chairman of TVS Motors, Venu Srinivasan said that the launch of Phoenix is very significant for the company in expanding its brand presence throughout the country. The motorcycle manufacturer presently does not have any model in the executive segment, which almost account for around 40 per cent of the complete motorcycle market presently. Owing to this, the company’s caters to the demand of just 60 per cent of the market and in the light of this; the auto maker is doing reasonably good in the motorcycle business.
The Chairman further said that the company marks a void in the Rs. 55,000-60,000 product range, which is said to be the market’s most important, biggest and lucrative segment. Therefore, with the launch of Phoenix in the Indian auto industry, the company is making its presence felt. In a conversation with the media, Srinivasan said that as the name suggests, Phoenix is a model which can do miracles on-roads and is expected to do the same for company.
Besides Phoenix, TVS Motor is also looking ahead to the launches of some new models as the auto maker has not made any additions in its portfolio in the last two to three years. Therefore, the company will now introduce a new model in every quarter, which will assist it to expand the brand presence in the Indian auto industry. Reportedly, the company is planning to launch five new models before the end of 2013.
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