Chennai: Facing stiff competition from Japanese players like Honda, country's largest two wheeler maker Hero MotoCorp and Bajaj Auto, TVS Motor Company has planned to launch a new product every quarter, a top company official said on Wednesday.
The first in this initiative would be the 125cc motorcycle Phoenix, expected to hit the roads later this month, TVS Motor Company Chairman Venu Srinivasan said at company's 20th Annual General meeting here.
"We had some issues in motorcycle (segment). We were competing with top players across (various) models. We will consolidate our position in next 15 months with several launches. We will have a new product every quarter," he said.
He said the company's 125cc motorcycle Phoenix would be introduced later this month. "We did not have much presence in this segment. We hope it will change the position of TVS Motor Company (after the launch)," he said.
According to company officials, in the 125cc segment TVS Motor Company has TVS 'Flame' competing with Honda's CB Shine, Hero's Super Splendour and Bajaj Discover. TVS Motor Company offers 110cc TVS Star City, TVS Sport, auto-clutch TVS JIVE and 160cc Apache in the premium segments.
As part of reducing costs, Srinivasan said the company also plans to simplify the parts during the next three years.
The plan is to simplify the number of parts (used in the two-wheeler). "We will try to bring it down to two or three (platforms) from the multiple platforms...," he said, adding, it would decrease the cost involved and improve their margins.
Two-wheeler major TVS Motor Company reported 20.6 percent dip in sales at 1,54,647 units in August 2012. The city- based company had sold 1,94,898 units during the same month last year.
Sales of two-wheelers plunged to 1,50,740 units in August this year as against 1,90,184 units recorded in August, 2011, the company said in a statement.
Sales of motorcycles declined to 53,673 units in August this year from 77,726 units sold in the same month of last year.