TVS Motor Company expects to gain 4-5 per cent market share in the country’s scooter market by the end of this financial year.
The company currently has a share of about 15 per cent selling about 30,000-32,000 scooters in a market of about 2,50,000 scooters per month. “We hope to take this up to 50,000 scooters per month within next few months with the launch of Jupiter in a segment where we were not present before,” S. Arun Kumar, regional manager, South, TVS Motor Company Limited, said.
Speaking at a press conference after the launch of its new scooter Jupiter in Andhra Pradesh market, Arun Kumar said that the scooter market is growing at about 12 per cent and offers more scope for the company to expand its presence.
“With Jupiter priced at Rs 48,000 ex-showroom here, we would be able to address a much larger scooter market. This will enable us to increase the market share by about 5 per cent and take it to up to 20 per cent,” he said.
Referring to the scooter industry, which averages a sales volume of about 2.5 lakh per month, the single user segment takes up nearly 64 per cent of overall numbers, including male (35 per cent) and female (29 per cent). The rest comes from the dual use segment. This scooter fits into the dual use where TVS was not present in the past.
He said the company was working on several other models in different segments. The company sees the volumes going up during the festive season and after the monsoons.