TVS Motor: Confident of better performance in domestic and global markets
Business: TVS Motor Company expects to grow faster than the competition in domestic and international markets this fiscal, driven by new product launches and strengthening operations in key regions, according to CEO KN Radhakrishnan. In the domestic market, the company expects the growth momentum to continue with rural markets likely to strengthen with a normal monsoon, he said. In international markets, Radhakrishnan expects to outperform in key markets such as Africa this year and expand operations in other regions such as the Middle East and Latin America. “With our strong product portfolio; our unwavering focus on consumers, quality, new products and attractive quality and technology, we are confident that we will outperform the industry in both domestic and international markets,” Radhakrishnan said in a call with analysts. He said the growth momentum is likely to be maintained with a budget focused on job creation, continued high commitment to infrastructure and the rural economy. “We expect improvement in rural markets. With normal monsoon expected, we may see strong growth in the second quarter,” Radhakrishnan said.Airline begins investigation
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He said for the first time the company is seeing that rural areas are performing slightly better than urban markets.
He said improving road infrastructure and economic environment will drive demand for two-wheelers.
He said the two-wheeler sector has a huge opportunity in the medium and long term given the challenges in mobility as well as government investments on infrastructure and road development. According to KN Radhakrishnan, director and CEO of TVS Motor Company, the company plans to expand its electric vehicle sales in both developing and developed markets, betting big on India’s potential to emerge as a major export hub for electric two-wheelers. He told analysts that the company will leverage its plant in Indonesia to cater to other neighbouring markets in the ASEAN region, where it started selling its electric scooter TVS iQube last year.
