TVS unveils new bike, scooter; vows 2 launches a year
26 November 2009
Topping up its portfolio in the executive motorcycle and scooter segments, TVS Motor Co on Wednesday launched of India's first auto-clutch bike 'Jive' and automatic scooter 'Wego'.
TVS Motor chairman Venu Srinivasan said at the Chennai launch that the company is targeting a bigger share of the two-wheeler market. In the executive segment, pegged at three lakh vehicles nationwide a year, it expects to notch up a 10 per cent share through its Jive and Flame range of bikes.
Barring Flame, TVS was so far not present in the executive segment, Srinivasan said, and added that the company has set itself a target of raising its sales of Flame from 4,000 units a month to 10,000 in the next fiscal. It is also confident of selling 20,000 to 25,000 T-Matic technology-fitted Jive bikes, a technology for which the company has applied for a patent.
Srinivasan said the company would launch two new models each year, which could be in the form of upgrades and new variants. "I don't think the market will allow us to stay still and just consolidate," was his response when asked about being a complete player in the motorcycle and scooter segments.
The 110-cc Jive is priced at Rs 41,000 and Wego at Rs 42,500, he said, adding both these products have been designed keeping the focus on "stress-free" riding experience. TVS has taken all aspects like ergonomics, riding experience and handling in its product design.
The company has spent Rs25 crore to develop Jive and Rs50 crore on Wego. The former promises a mileage of around 60 km while the latter is around 50 km. The Jive gearbox has been imported from Indonesia while the engine is Indian. "It is marrying of technologies," Srinivasan said.