Report – TVS to focus on Indonesian subsidiary and export markets for growth
Nithyanandh K, As a toddler, those wheeled machinery fascinated me even before I knew what they’re called as! So here I'm, petrolhead by birth, Mechanical engineer by qualification and automotive reporter by profession!
The Indonesian subsidiary is expected to turn cash positive this year.
TVS Motor Company is looking to regain its third position in the domestic two wheeler market with new product launches such as the TVS Scooty Zest and the next generation versions of the Victor and Apache. As things stand, TVS is in fourth position, lagging behind Hero Motocorp, Honda and Bajaj.
To further augment its prospects, the two wheeler maker is banking on its export operations and the Indonesian subsidiary which has a local manufacturing presence.
Talking to the shareholders at the Annual General Meeting, Mr. Venu Srinivasan, Chairman and Managing Director, TVS Motor Company said that the company’s Indonesian wing is expected to turn cash positive this year. He added that the learning from the competitive Indonesian two-wheeler market has helped in turning around fortunes.
Regarding the export markets, Mr. Srinivasan said that the focus will be on emerging markets, especially the African and South American nations.
As far as the domestic market is concerned, the success of recently launched products like the Start City+ commuter and Jupiter automatic scooter has meant that the upcoming launches are pushed a bit further.
The new Apache which would launch before the end of this year will derive its styling from the Draken-X21 concept which was unveiled at the Auto Expo.
TVS Draken-X21 Concept – Image Gallery
[Source: ET Auto]