KN Radhakrishnan, president and CEO, TVS Motor Company at the launch of TVS NTORQ 125 in Chennai on Monday
Two- and three-wheeler manufacturer TVS Motor on Monday launched a new 125cc scooter, TVS Ntorq, priced at Rs 58,750 (ex-showroom in New Delhi).
The firm has invested around Rs 1 billion in the new vehicle and targets to sell 200,000 units in the first year.
The new scooter joins the company’s other products, including popular scooterette, Scooty Pep, scooters TVS Jupiter and We Go. The product will be available in the next one week across the country, said TVS Motor CEO K N Radhakrishnan.
TVS’s current market share is about 17 per cent in the scooter category, while it has market share of about 9 per cent in motorcycle.
Today, one third of its sales comes from the scooter category. Radhakrishnan expects the company will grow more than the two-wheeler industry in 2018-19. “We expect the industry to grow at about 10 per cent, and we will grow faster,” he added. The new scooter will be one of the major growth drivers. The company expects scooterisation will continue to drive the two-wheeler industry.