TVS Motor Company hopes to make up for its long absence from the mid-segment with a couple of launches.
The next few months will see the rollout of the Phoenix 125cc executive motorcycle, which was unveiled here today, followed by the new Victor in August.
The ‘executive’ bikes, in the 110-125cc range, account for 40 per cent of the country’s motorcycle market; entry-level and premium motorcycles make up the rest.
Estimated at 1.6 lakh units, the fast-growing executive segment (priced Rs 50,000-60,000) is seeing a lot of action with the likes of Passion (from Hero), Shine (Honda) and Discover (Bajaj).
While TVS has Star City at the entry level and Apache at the upper end of the market, the company was notably absent from the middle segment, after its bikes Flame and Centra did not click. The pullout of Victor a few years ago also did not help.
Absence from this “large, profitable” segment “hurt the company significantly”, said Venu Srinivasan, Chairman.
Priced Rs 53,000 ex-showroom, Phoenix is positioned at the premium end of the executive segment.
It touts features such as a fully digital speedometer, hazard lights and soft texture grips. Phoenix promises a mileage of 67 km per hour. TVS spent Rs 50 crore to develop this motorcycle.
One may associate Phoenix with a rise from ashes, but Srinivasan believes in the “healing and magical powers” of the bird, in true Harry Potter style.
Phoenix will hit the roads by November; TVS wants to ramp up sales to 20,000 units a month by March/April.
The company hopes Phoenix and the upcoming Victor will not only fill the void in the company’s portfolio, but also boost its market share from 13 per cent to 18 per cent by the next financial year. (TVS Motor recently slipped from the third to the fourth position.)