TVS Motor targets 15-20% growth in sales during FY09

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New Delhi, Jul 7 (UNI) Despite the slump in the auto industry amid the increasing input costs, TVS Motor Company Ltd today said it is targeting 15-20 per cent growth in its sales at an estimated 15 lakh units in the current fiscal.

''We aim to grow by 15-20 per cent this fiscal. Inflation will have an effect on the economy, but as two-wheelers have lower operating costs, we have a better chance even if oil costs go up further,'' company Head (Marketing) H S Goindi told reporters on the sidelines of the launch of a new bike model here.

The country's third largest motorcycle maker TVS Motor aims to sell 15 lakh units in FY09, including two lakh units sales through export to more than 56 countries.

The Chennai-based company plans to launch new models of their existing portfolio in every three-six months in the next two fiscals, he added.

''Our portfolio is complete. We hope to launch new versions of our various motorcycles in every three-six months over the next two years,'' Mr Goindi said.

Asked whether the company is contemplating a price hike on account of surge in input costs, he said, ''if the cost pressure goes beyond our absorption level, we have to pass on the partial burden to the consumers. Currently, the company is observing the extend of this pressure.'' The company also sees to increase its market share to 18 per cent from the present 15.5-16 per cent, he said.

TVS Motors has recently entered the three-wheeler business with the launch of 200cc autorickshaw 'TVS King' in Kerala.

''We have got a good response in the Southern India,'' he said.

It plans to launch the vehicle in Northern India during October-November this year.

UNI MP SR RN1759

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