Chandigarh: Two and three wheeler major TVS Motor on Wednesday said its market share in motorcycles segment is expected to expand by 2.5 percent with the launch of new bike in 125 cc segment.
"Our market share in motorcycles segment will go up by 2.5 percent to 9.5 percent because of the launch of our deluxe Phoneix 125 cc bike," company's General Manager (Marketing Motorcycles) Arun Siddharth told reporters here.
The company currently has 7 percent market share in motorcycles segment.
The company is expecting monthly sales of 20,000 units of its new bike which has been rolled out in 125 cc segment.
"In 125 cc segment, we expect 11-12 percent market share (in motorcycles," he said, adding that the market size of 125 CC in the country was 1.6 lakh units per month.
The overall market size of motorcycles in the country stand at 8.5 lakh units per month which is facing flat growth this year, he said.
"Since July this year, the motorcycle market has been flat," he said, adding, "But 125-150 cc segment grew by 8 percent".
The Chennai-based company in its Q2 results reported decline in sale of motorcycles to 1.67 lakh units for the second quarter of the 2012-13 fiscal, as against 2.41 lakh units registered in the corresponding period last year.
"We have developed an all new engine for 125 cc motorcycle. This launch will increase our market share in the segment. We are now present in economy, executive and premium segments of the industry," said Siddharth.
First Published: Wednesday, December 12, 2012, 18:30