TVS Motor today launched the new TVS Apache RTR 200 4V and a new Victor. It has invested around Rs 300 crore to develop the product.
TVS Apache RTR 200, targeting customers who like racing, and track-oriented drivers, will take on the likes of KTM Duke 200, Pulsar 200 NS and other bikes in the category.
TVS Victor is priced in the range of Rs 49,490 to Rs 51,490 ex-showroom, while new Apache will be in the range between Rs 88,990 and Rs 1,15,000 ex-showroom Delhi.
Venu Srinivasan, chairman, TVS Motor said the two new launches is yet another reiteration of TVS’s promise to deliver high quality, customer-centric products. He added that these two are significant bikes and will improve market share for the company.
The company hopes to increase market share by 3% in motorcycles from the current 7% by end of this year. In the premium segment, the company plans to increase it to 22% from the current 17%.
“This year, we will see a big growth in motorcycle space,” said Srinivasan. Overall, the company hopes to close the fiscal with a market share of 15.5% from the current 14% and next year it hopes to increase to 18%.
K N Radhakrishnan, president and CEO, TVS Motor said that the company will consolidate its position in the premium category. The two brands will be other key milestones for the company, he added.
The company will enter into the commuter segment, driven my family men mainly, with new Victor. It said that the product will give mileage of 76kms a litre. Commuter segment contributes nearly 40 % of motorbikes market.
The company targets to sell 25,000 Victor a month and 7,000 Apaches a month till the festival season of 2016.
TVS Apache RTR 200 4V shares its platform with the RTR 160 and RTR 180, though the company has tweaked the platform to make it capable of handling a more powerful five-speed engine with 20.5 PS @8500 rpm with a torque of 18.1 Nm.