Domestic sales of TVS Motor in the month of June as well as for the April-June quarter have exceeded those of Bajaj, according to figures released by the Society of Indian Automobile Association. These numbers have helped TVS Motor reclaim the number three spot in the Indian two-wheeler market, behind Hero MotoCorp and Honda.
Since the beginning of this financial year, TVS has been consistently posting more than 15 per cent growth. While Bajaj has also been experiencing a surge in demand, the magnitude of its growth has been overshadowed by that of TVS.
The last few years has seen TVS go through several ups and downs. The Chennai-based company was the country’s third largest two-wheeler manufacturer before the onslaught of Honda pushed it to the fourth position. Now, though the manufactured has regained the lost ground with the help of the wide range of two-wheelers in its portfolio.
Unlike Bajaj, which only sells motorcycles in the Indian two-wheeler market, TVS’s lineup comprises of motorcycles, scooters as well as mopeds helping it cater to a wider audience. The scooters in its lineup, Scooty Pep+, Scooty Streak, Jupiter and Wego collectively sold more than one lakh units in the first quarter of this year, which significantly boosted its sales numbers.
Though it might have been beaten in the domestic market, Bajaj still continues to reign as one of the most profitable two-wheeler manufacturers in the world. Speaking about the company’s plans, Rajiv Bajaj, MD, Bajaj Auto said, “Bajaj's strategy is to dominate multiple markets in one category, whereas that of our domestic rivals appears to be to dominate one country - India - in multiple categories. As a global company with a huge exports base, we are primarily the No. 1 by far in terms of profitability."
