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TVS Motor Company has indicated that it would roll out new scooter models soon as the two-wheeler maker expects the scooter segment to get back to higher growth trajectory from the second half of this fiscal.
However, the company declined to provide more details on the new launches, which will include an all-new scooter model as well as facelift variants of existing models. “In the past two years, overall two-wheeler sales cooled off and scooter sales also saw some moderation. But, we feel scooter growth moderation is a temporary phenomenon as we are already seeing interest coming back in scooters. Various data points and consumer search data indicate reviving interest in scooters. So, I think scooter market is getting ready for a great second half,” Aniruddh Halder, Vice-President – Marketing, TVS Motor Company, told BusinessLine after discussing the landmark sales achievement of its popular scooter brand Jupiter.
He further said: “in scooters, a lot of demand has been postponed mainly due to sentiments, not on the basis of actual affordability. So, money is not an issue but the willingness to spend is lower. However, there are lot of positive factors such as the upcoming 7th Pay Commission bonanza and favourable monsoon predictions that will drive positive sentiments back in people’s minds. So, pent up demand will also come into the market in the second half.
While scooter segment growth has been more an urban phenomena, revival in rural market is also expected to bring in some additional growth. Meanwhile, TVS Motor has seen a growth of 20 per cent in its scooter sales this year when compared with the previous year. While the new launches are being planned, the company has come out with a special celebratory edition of its flagship scooter model Jupiter, which has achieved fastest one-million sales mark.
Jupiter has achieved the record in about 30 months since its launch in 2014. “Now, one Jupiter sold every minute,” he said. The special edition called Jupiter MillionR edition has 10 new features to mark the 10 lakh customer base.
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