Domestic Two-Wheeler Market Set To Grow This Fiscal, Says TVS Motor Chairman
TVS is also expanding its international presence by enhancing its global distribution network.
TVS Motor Co. expects domestic two-wheeler growth for fiscal 2025, fuelled by strong economic indicators, according to Chairman Ralf Speth. Speaking at the company's annual general meeting, Speth highlighted that TVS Motor, in collaboration with BMW Motorrad, will be working on designing and developing new vehicles for global markets.
Speth emphasised India's potential to leverage its young, skilled workforce and navigate significant geopolitical, economic, environmental, and social changes. He believes India is well-positioned to take advantage of these shifts and has the potential to surpass expectations.
"To achieve our vision, aligning technological advancements with strategic infrastructure development and proactive collaboration between academia, industry, and government is essential," Speth said.
Speth highlighted that the company's emphasis on electric vehicles supports its 2030 vision, targeting sustainable innovation and addressing consumer demand for energy-efficient transportation solutions, aligning with the future of green mobility.
Regarding export prospects for the current fiscal, Speth indicated a gradual recovery in overseas shipments of two-wheelers following a weak performance in fiscal 2024. He noted that the improvement in the African market will be supported by easing global inflation, and expansion plans in Latin America, ASEAN, and the Middle East will further boost momentum.
TVS is also expanding its international presence by enhancing its global distribution network. In fiscal 2024, the company entered the European market through a new distribution partnership and has homologated a variety of EV and internal combustion engine products.
Additionally, TVS and BMW Motorrad will continue their partnership, focusing on the design and development of new vehicles for the global market. Since their collaboration began in April 2013, the two companies have been working together to manufacture sub-500cc motorcycles for international markets.
With a strong product line-up and a commitment to consumer satisfaction, quality and design, TVS is confident about its prospects for fiscal 2025, Speth said.
(With inputs from PTI)
