Two and three-wheeler manufacturer TVS Motor is aiming to capture a bigger market share in the premium motorcycle segment, an official of the company said on Wednesday.
The company enjoys the number two position in the premium motorbike segment in India, which is growing at 10% at present, he said.
Motorcycles having an engine displacement of 150 cc and above are categorised in the premium segment.
"We enjoy the number two position in the premium segment in the Indian motorcycle market. We aim to have a bigger market share in this category,” Vimal Sumbly, head (premium business) of TVS Motor said.
Also Read: Ather Energy IPO: E-scooter maker Ola Electric's rival pads up to list on D-Street by Diwali 2024
Launching the TVS Apache RTR 310 in Kolkata, Sumbly said the company now offers premium motorcycles ranging from 160 cc to 310 cc displacements.
"Our aim is to increase the volume of the premium motorcycle segment in the country. Now premiumisation in the motorcycle segment is taking place at a faster pace with improvement in infrastructure and rise in disposable incomes,” he told reporters.
The company is now exporting its two-wheelers across all categories to around 55 countries with a global sales volume of one million annually, he added.
(Edited by : Vivek Dubey)
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
I.N.D.I.A. bloc committed to predictable and stable tax environment: Jairam Ramesh
May 21, 2024 6:33 PM
Exclusive | INDIA bloc will ensure stable policy framework, simple GST, end tax terrorism: Jairam Ramesh
May 21, 2024 5:02 PM
Cong leaders 'failed' to protect party's constitution says FM Nirmala Sitharaman in Bihar
May 21, 2024 4:01 PM
Who will succeed Modi? Oppn thinks Amit Shah will, but PM said this
May 21, 2024 2:38 PM