TVS Motor Company, India’s fourth-largest two-wheeler maker, is banking on rural buying in south India to sustain its double-digit growth momentum and plans to invest Rs 600 crore to expand its product range and distribution network.

Demand for the brand remains strong, the company said, with retail volumes growing over 20% during Dusshera and Diwali and the momentum is expected to continue. TVS Motor’s two-wheeler sales grew 14% in the first half of the financial year, exceeding the market rate.

CHENNAI: In Tesla's race into the future, there is an Indian partner fastening its belt.

TVS group's auto-component maker Sundram Fasteners has begun its electric vehicle (EV) journey with an order from Elon Musk-founded carmaker Tesla to supply key parts in gear transmission and equivalents of radiator caps in a development that the company believes will ignite its own gradual transition to the EV era.

New Delhi: TVS Motor Co. Ltd on Wednesday posted 20.2% rise in net profit at Rs213.16 crore for the second quarter ended 30 September, aided by robust sales across domestic as well as export markets.

The company had reported a net profit of Rs177.39 crore during the same period of previous fiscal. Its revenue rose to Rs4,097.99 crore during the second quarter, as against Rs3,465.69 crore during the same period of previous fiscal, TVS Motor said in a regulatory filing.

Mumbai: TVS Motor Co. on Friday said it has got into an exclusive distribution partnership for its two-wheelers with Motoplex S.A.S. of Grupo Bonanza, an automobile business house in the Dominican Republic. Hosur-based TVS is looking to strengthen its presence in the Caribbean region, it said in a statement.

As per the partnership, Motoplex will build and operate 40 TVS dealerships to sell the latter’s two-wheelers in the Dominican Republic. The first dealership under the alliance was inaugurated in capital Santo Domingo on Friday. The company currently sells its WEGO scooter, the TVS Sport bike and a dozen high-performance bikes under the Apache RTR series, in the Dominican Republic.

Demand for economy segment motorcycles — an indicator of the demand scenario in the rural market — is again on the rise in the first six months of the current financial year after staying subdued in the last three fiscals due to inadequate rainfall, the adverse impact of the demonetisation move and a ban imposed by the Supreme Court over the sale of BS III vehicles. In April-August, most of the Hero MotoCorp and TVS Motor offerings in the segment showed an improvement.

Leading two-wheeler manufacturer TVS Motor Company Ltd said it is prepared to export its latest bike model - TVS Victor Premium Edition depending on the market demand.

“As and when the demand happens, we would be keen to export this model. TVS is already exporting to 60 countries”, said Kendraj Joshi, senior manager, TVS Motor Company Ltd.

Honda Motorcycles and Scooters India (HMSI), the country’s largest scooter manufacturer, has managed to increase its market share in the motorcycle segment to 17% in the April-August period of the current fiscal, compared with 13% in the corresponding period last year.

As a result the Japanese two-wheeler manufacturer has overtaken Bajaj Auto and TVS Motors in motorcycle sales to grab the second spot in terms of unit sales in states like Bihar, Jharkhand, Uttar Pradesh and Odisha.

TVS Emerald, the real estate arm of TVS Motor Company and ASK Property Investment Advisors (ASK PIA) have partnered to set up Rs 400 crore real estate investment platform. ASK PIA is the real estate private equity manager of ASK Group.

Both partners will jointly infuse money. The capital raised will be invested in affordable mid-income housing projects, ASK said in a release on Monday.

Sales of mopeds from the only manufacturer in the country — TVS Motors — has witnessed a decline since March 2017 on a year-on-year basis leading to the sharpest fall in July when it declined by a huge 19.20% to 60,589 units. During the April-June quarter of FY18, moped sales declined by 10.91% at 193,493 units against 217,201 units in the same period a year ago. However, in FY17, total domestic sales of mopeds at 890,367 units was higher than that of scooters which was at 826,291 units. According to Abdul Majeed, Partner PwC, consumers’ preferences are changing from mopeds to other two-wheelers.

TVS Motor, maker of two-wheelers and three-wheelers, plans to invest Rs 450-500 crore this financial year, mostly on new products.

Despite the impact created by demonetisation, the goods and services tax and higher emission norms, TVS says it is confident of a double-digit operating earnings margin.

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