TVS Motor Company aims to sell 2 lakh units per year of its newly launched 110cc TVS Radeon bike. In the month of July, it registered a YOY growth of 18% on the total sale of its two-wheelers. The new bike is priced at Rs 48,400 (ex-showroom Delhi).
TVS Motor Company is one of the biggest Two-wheeler brands in India. With its extensive bike and scooter portfolio, most of its products are best sellers in their respective segments. Recently, it launched a new 110cc commuter segment motorcycle, TVS Radeon at a price of Rs 48,400 (ex-showroom Delhi). This bike is mainly focused on rural and tier-II cities. At this price, it also undercuts the Hero Splendor Pro, Splendor Plus, and Honda CD Dream DX. At this event, TVS Motor Company said that it hopes to sell 2 lakh units per year of the new TVS Radeon. The commuter segment is already booming with a total share of around 45% in the total bike market. Commuter bikes include bikes usually under 150cc, which are more focussed on durability, mileage, and lesser prices.
At the launch of TVS Radeon, KN Radhakrishnan, CEO of TVS Motors said, “Starting from urban, rural to small towns, everywhere this bike will be accepted. We have three offerings already (Victor, Sport and Star City) and this one is uniquely positioned.” He added, n addition to whatever we are doing today, we expect 2 lakh volumes to come from the sales of Radeon.”
In July, TVS Motor Company registered a YOY growth of around 17% across its whole two-wheeler portfolio. It sold around 3,07,856 units in July 2018 as compared to 2,63,336 units in July 2017. Across its whole product portfolio, which includes scooters, bikes, mopeds, and auto-rickshaws, it registered a growth of around 18% in July 2018 as compared to the previous year.
As per ET Auto, in the current fiscal Q1, TVS Motor Company sold around 3.9 Lakh motorcycle units. In FY 18, the total sale was around 13.6 Lakh units. Various analysts have said that the volume growth of the commuter segment will be mostly flattish, which includes 100-135cc motorcycles. Radhakrishnan also said that currently, TVS has a share of around 7% in the commuter motorcycle segment.
Currently, the scooter lineup of TVS includes Ntorq, Jupiter, Wego, Zest 110 and Scooty Pep+. Its motorcycle lineup includes Apache RR 310, RTR 1604V, RTR 160, RTR 180, RTR 200 4V, TVS Victor, Star City, and Sport. Among these two-wheelers, Ntorq has seen a significant rise in the sales because of its latest technology and many features. The scooter segment has grown overall by 29% this July and the bike segment by 11%.