Kochi, Jul 4: Two-wheeler major TVS Motor Company today said it is targeting a market share of 25 per cent this year for its newly launched three-wheeler autorickshaw 'TVS King'.
Addressing a press conference here to launch the 200 cc, two stroke engine auto in the Kerala market, TVS Three-Wheeler Marketing Head K Srinivasan said the company was targeting to sell about 25,000 units this year nationally, which would account for a 25 per cent market share. In Kerala, the company planned to sell about 2,000 units during 2008-09. The annual market in the state was for about 9,000 vehicles, he said.
The 'TVS King', which has so far been introduced in the southern states, would be launched in all major cities of the country by October-November this year, he said.
The company was also planning to come out with a goods transportation version in 15 to 18 months' time, Mr Srinivasan said.
While TVS King was priced about one to 1.5 per cent higher than the competition, TVS hoped to compete with market leader Bajaj Auto on the basis of product and service, Mr Srinivasan said. 'TVS King' was powered by a 200 cc engine as against 150 cc engine of its competitors. It also had an electric start option to reduce driver fatigue.
Available in petrol, LPG and CNG versions, the vehicle's price ranged from about Rs 90,000 for the hand start petrol version to Rs 94,000 for the electric petrol version and Rs 1.10 lakh for the LPG electric start.
A car-like dashboard with fuel level indicators and mobile phone charging socket, dual tone seats, an integrated bumper, powerful twin head lamps and brigher rear tail lamps besides a single large windshield with laminated glass would add to driver and passenger comforts besides making the vehicle stylish.
He said TVS had invested more than Rs 120 crore in a state-of-the-art manufacturing plant in Hosur, Tamil Nadu, with an installed capacity of 100,000 vehicles per annum.
Announcing several welfare programmes for auto drivers and their families, Mr Srinivasan said TVS would offer all TVS King owners a one-year personal accident and health care insurance policy with a personal accident cover of Rs 100,000 for the driver and Rs 30,000 medical insurance for the family.
The company would also reward children of TVS King owners who secure the highest marks in Class X and XII examinations in each state.