NEW DELHI: After a firm foothold in Africa, Latin America and many other developing markets, Chennai-based automaker TVS Motor is eyeing a bigger presence in the ASEAN and European markets.
Currently, domestic two-wheeler manufacturers have a small presence in most ASEAN (Association of Southeast Asian Nations) markets owing to the significant hold of the Japanese players.
TVS believes with their premium products, which are big on features, they stand a chance of succeeding in more matured two-wheeler markets, including Europe where it is present through several tie-ups. On Wednesday, TVS Motor launched the Apache RTR 310, a naked free-style premium motorcycle, at Rs 2.43 lakh. This is TVS’ second big launch in less than one month as the company launched its electric scooter ‘X’ on August 23.
“We will be exporting the new motorcycle to Latin America, and ASEAN, and will also be focusing on Europe this time. These markets have good growth opportunities for us,” said KN Radhakrishnan, Director and CEO, of TVS Motor Company.
He added that deliveries of the RTR 310 will first commence by month-end in India and then after they would start exporting it to markets such as Thailand in the ASEAN region and Latin America. TVS plans to sell the Apache RTR 310 in Europe by early next financial year (FY2024-25).
The Apache RTR 310 will primarily take on the lKTM Duke 390. TVS is planning to sell about 25,000 units of this bike in the first year. TVS is India’s second largest exporter of two-wheelers after Pune-based Bajaj Auto. The company’s two-wheeler exports in 2022-23 were 9.15 lakh units, a decline of 16% over 2021-22 due to the global industry slowdown.