Chennai, Aug 2 (IANS) Launch of a 310 cc motorcycle before this fiscal, leveraging fast moving products to the fullest extent and introducing new products are strategies planned by TVS Motor Company Ltd to touch 15 per cent market share this year, a gain of around two per cent, said a top company official.
President and CEO K.N.Radhakrishnan also said the company's capex this year will be around Rs 400 crore and the existing production capacity will be sufficient for the next 18 months.
"This fiscal, we will launch our 310cc motorcycle. Before the end of this fiscal we want to do some volumes," Radhakrishnan told reporters here on Tuesday.
The 310cc motorcycle and its engine were developed jointly with the German automobile giant BMW on a common platform/architecture, he said.
Queried about lower engine capacity when compared to Eicher Motors Ltd's Bullet range of bikes that start with 350cc, Radhakrishnan said: "We have thought through the issue. It will do well."
At the Auto Expo 2016, TVS Motor showcased a 310cc race bike called TVS Akula.
When pointed out the price of TVS Motor's high-end motorcycle Apache 200 (around Rs 105,000 on road Chennai) and whether the 310cc bike would have to be priced above that, Radhakrishnan declined comment.
According to Radhakrishnan, the company's primary goal is to increase sales volume, which, in turn, would make the dealers profitable and bring down the component costs and improve the profitability.
He said the Victor motorcycle is expected to drive volume for the company while the moped segment is expected to remain at around 70,000 units per month.
"The Victor bike is doing around 15,000 units per month and we want to take it to 20,000 per month. Growth for the company will come from scooters," Radhakrishnan said.
According to him, the company is hoping to log volume growth of around 15 per cent this fiscal in the two wheelers segment.
He said sales of three wheelers are picking up.