TVS Motor Co, India''s third-biggest motorbike maker, has rolled out seven new vehicles, including its first three-wheeler and a new 125 cc bike, aimed at gaining lost share in a highly competitive market.
Along with three types of motorised three-wheelers, the company also unveiled an electric scooterette, a 110 cc variant of its Star City bike and a new model of the Apache 150 cc bike, which will be launched in phases.
Each new roll-out signals intent to regain market share and momentum within the industry, TVS said in a statement.
TVS estimated the market for passenger three-wheelers at 360,000 units a year. Its plant in Hosur has an annual capacity to make 100,000 three-wheelers.
The market is led by Bajaj Auto Ltd, with Mahindra & Mahindra Ltd and Piaggio also competing.
TVS Motor trails Hero Honda Motors Ltd and Bajaj in the motorbike market, which has seen a drop in sales in the past few months as higher interest rates hit consumer spending.
The new launches from TVS come just ahead of the launch of Bajaj Auto''s new 125 cc Exceed bike, which Bajaj expects will wean consumers from the lower-margin 100 cc segment.
Source : www.indian-commodity.com
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