TVS rolls out 3-wheeler from its stable

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{image-tvs motors logo_09032008.jpg www.oneindia.com}Chennai, Mar 9: TVS Motor Company today formally launched its three-wheeler priced between Rs 90,000 to Rs 1.30 lakh, with an initial investment of Rs 120 crore. ''The total three-wheeler market (inclusive of passenger rickshaws and luggage carriers) is estimated at over 400,000 units per annum and the company plans to roll out 30,000 units in the first phase and increase it to 50,000 in 18 months,'' TVS Motor Sr Vice-President (International Business and Three-wheeler) H S Goindi told reporters.

Launched in LPG and Petrol Versions, the 'TVS King' autorickshaw will have a 200 CC two stroke engine enabled with electric start. It promises a mileage of 30 km/ltr and is fitted with 18.4 Nm torque at 2500 rpm. It also boasts of a modern low friction 7-port engine with four forward and one reverse speed mechanism.

The company plans to capture 30 per cent of the market share and will be in markets across India by December 2008. ''We have also launched 4-stroke CNG autorickshaws in select cities priced at Rs 1.30 lakhs. The company has invested Rs 120 crores in the first phase and will manufacture two lakh units of TVS King in next 2-3 years,'' Company Chairman, Thiru Venu Srinivasan said.

The vehicle comes with powerful twin 35 watt headlamps and also attractive interiors like dashboard, dual tone high quality seats, and an integrated bumper. The standard accessories include a water bottle holder and a magazine holder.

With a turnover of 2.2 billion dollar, Mr Srinivasan promises to gift the customers with a new scooter every year.

With excise duty cut by four per cent on two and three-wheeler segment, the company is all set to race ahead of its competitors.

The company registered a total two-wheeler sales of 95,235 units in February 2008 against 1,20,110 units in the corresponding period last year, while exports witnessed a quantum growth of around 56 per cent.

The company also incurred a loss in the motorcycle sales which stood at 46,565 units in comparison to 70,155 units recorded in February 2007.

UNI

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