TVS Motor’s management today said that its focus would be to grow more than the industry rate in 2016-17 and gain market share as well.
The company expects two-wheeler industry to register 8-10% growth for 2016-17. It may be noted in 2015-16 domestic two-wheeler industry was low at 3% with the first half decline of 1% and second half growth of 7%. In 2014-15, the growth was at 8.1%.
Urban markets will continue to drive the two-wheeler industry in 2016-17, further fuelled by Seventh Pay Commission disbursements. Recovery in rural India, due to normal monsoon, will imporve demand from rural markets, the company said.
The company would continue to invest in products and will be ready for the emission regulation change scheduled for April 2017 for all its products, said Venu Srinivasan, chairman, TVS Motor.
Addressing the shareholders, he said, on the scooters front, the company would focus on growing Jupiter and will take focuses brand actions and regular product interventions in terms of refreshness and limited editions for all brands are planned.
TVS Motor will also focus on increasing commuter market share by leveraging the success of TVS Victor 110 by holding the entry level market share with relevant marketing and product refresh actions on TVS Sport and TVS StaR City+.
During the quarter ended June, its market share was said to be 13.5% against 13%, a year ago.
On exports, focus will be emerging markets including Latin America, African and Asia.