TVS Motor Company plans to launch TVS Phonenix 125cc, an executive motorcycle on 28th of September. Venu Srinivasan, the Chairman TVS Motor Company, stated that the company has been absent in the executive category of motorcycles and the launch of Phonenix is to commence production of such bike types. He added that Phonenix certainly is going to change the position of TVS in this segment. Speaking in a company AGM, Venu Srinivasan further stated that the company has also planned to introduce a complete new series of bike launches in the approaching 18 months. He added, “I expect the two-wheeler industry to grow in very low single-digit during the rest of the year, given the global uncertainty and economic slowdown in India.
Uncertainty will continue to haunt the motor industry. Exports have also declined.” Mr. Srinivasan believes that the domestic demand for three-wheelers is slow, but a significant improvement in exports is strongly expected. The company hopes its Indonesian arm to achieve cash breakeven by the end of this fiscal; “this will help improve our bottom-line,’’ he concluded saying.
Source: The Hindu Business Line