TVS Motor eyes 18% market share

TVS Motor Company CEO K N Radhakrishnan has said that the firm has made an investment of Rs 70 crore in its new TVS Scooty Zest 110 product which the company launched on Wednesday. 

The new Scooty will be manufactured at the company’s Hosur plant. “Currently our market share is 15 per cent. We are looking it taking up to 18 per cent in the overall two-wheeler segment,” he said, adding that scooterette industry is around 30,000 units per month.

With the launch, the company hopes to sell around 10,000 units of its new scooter in a months time while it would launch a motorcycle in six months.

In a bid to cash on the growing market for the scooter TVS Motor has launched Scooty Zest a 110-cc scooter priced at Rs 42,300 (ex-showroom New Delhi), the company said in a statement.