TVS Motor Projects Scooter Market Boom with New Jupiter 110 Launch
TVS Motor Co. anticipates the scooter segment to constitute around 40% of two-wheeler sales, driven by urban and rural growth. The company has introduced the new Jupiter 110, expected to enhance market position with a 12% CAGR, outpacing the industry. Festive sales are anticipated to surpass current growth rates.
- Country:
- India
TVS Motor Company eyes further growth in the scooter segment, projecting it could account for about 40% of total two-wheeler sales, CEO KN Radhakrishnan announced on Thursday.
The company on the same day unveiled the Jupiter 110, noting it has consistently exceeded industry growth with a 12% compound annual growth rate in scooter sales, compared to the industry's 8%.
Radhakrishnan highlighted that the scooter segment's share is rising in both urban and rural areas.
He expressed confidence that the new Jupiter 110, with its unique features, would bolster TVS Motor's market standing.
The new model is launched at a starting price of Rs 73,700 (ex-showroom, Delhi).
Radhakrishnan also shared an optimistic sales outlook for the festive season, expecting growth to exceed the current 12.5% rate.
(With inputs from agencies.)
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