Friday, January 21, 2011

TVS to introduce a refreshed Apache and Scooty Pep+ this year

Chennai based two-wheeler major TVS Motor Company which has posted impressive third quarter results on Thursday is planning to revamp some of its current line-up in order to garner some more numbers.

It has been reported that TVS will introduce upgraded variants of its popular Apache and Scooty Pep+ models in the next few months. It was mentioned that TVS Scooty Pep+ is the flagship scooter of the two-wheeler manufacturer, while the TVS Apache motorcycle has won many awards since it was introduced in the above-150cc segment.

The report quoted TVS Motor Company Vice-President (Marketing) H Goindi as saying "We have planned to refresh two-wheelers. One will be the TVS Apache and the other the Scooty (segment).’’ He mentioned that the reason for launching the upgraded variants was the success of the existing models, which have been selling like hot cakes in the Indian market. "I can say they will be refreshing... For Apache, it will have the same name and the body," he said.

The two-wheeler sales have been impressive this quarter as TVS reported an over two-fold jump in profit after tax to Rs 55.75 crore for the quarter ended December 31, 2010. TVS Motor's profit after tax in the corresponding quarter of the previous year was Rs 23.54 crore and during the third quarter this fiscal, sales revenue grew by 51.23 per cent to Rs 1,647 crore from Rs 1,089 crore in the same period last fiscal.

It was mentioned that TVS Motor Company President and CEO K G Radhakrishnan said all the company's products are doing well and they aim to clock this "kind of growth" in coming quarters as well. It was also reported that he replied in the affirmative when asked whether prices might be revised, saying, "In addition to some marginal price increases, we are also looking to focus aggressively on cost reduction." TVS Motor Company Executive Vice-President (Finance) S G Murali said the company was effecting price revisions every quarter, based on commodity rate trends. "We are closely watching the position of the commodities. We feel (commodity) price will soften in the second half of next year," he said, according to the report.

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