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TVS Motor Co. announces expansion plansGMI
Kolkata: TVS Motor Company, one of India's leading two-wheeler manufacturers, is setting up its second manufacturing plant at Bhatti in Solan district of Himachal Pradesh by next year with an investment of Rs 90 crore. Announcing this here today, TVS Motor Co. General Manager Chandrashekhar Wamorkar said following the setting up of the new plant, the production capacity would be doubled to three lakh units per month from the present 1.5 lakh units being produced in its plant in Mysore. Speaking to newspersons at the launch of its new generation four stroke motorcycle TVS Star in the eastern region, Wamorkar claimed they were poised for a 33 per cent growth in sales in the economic segment and about 20 per cent in the premium segment in the all-India level. He said TVS Star, launched in North India a couple of weeks ago, had already sold about 50,000 units, making it one of the "hottest commodities" amongst the youth. He said prior to the launching of TVS Star, the company enjoyed about 17 per cent market share in the country's two-wheeler segment and stood close behind market leader Hero Honda that enjoyed about 20 per cent of the share. Last year, about 1.2 million mopeds, two-wheelers and scooters under their different brand names were sold within the country and this year they expected that the figure would increase by about 3.5 lakh. Asked about their plans for export, Wamorkar said since the demand for two-wheelers within the country was growing in leaps and bounds, "We did not find time to look abroad. Following the increase in capacity from next year after the commercialisation of the Bhatti plant, we might consider the expansion programme in the overseas market. Still our focus is fully on expanding the domestic market share." The new four stroke 100 CC TVS Star will be available in three colours and at a competitive price tag of Rs 30,990 ex-showroom.
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