TVS Motors has overtaken Bajaj Auto for the third spot in the Indian Market for the April-June 2014 quarter according to SIAM.
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The Society of Indian Automobile Manufacturers shared this data which shows that TVS has pipped Bajaj for the third spot on the back of strong sales in the scooter and moped sales. Bajaj which at one time was unchallenged for the 2nd largest manufacturer in India has seen a steady decline in market share, with Honda having overtaken the Pune based company and now TVS Motors has moved ahead with a strong presence in the scooter market.
Whether TVS Motors will be able to hold onto this spot in the long run is still to be seen, as till the previous financial year, they were also struggling with a decline in sales. A bunch of new launches in the smaller capacity segment including the TVS Jupiter, has helped turn its fortunes around.
Scooters have been the fastestgrowing segment in the 14-million-unit Indian two-wheeler market and have been driving sales at Hero MoroCorp and Honda Motorcycle & Scooter India as well. Scooter sales grew 29% to 10.10 lakh units in the first quarter ended on June 30. Despite the recent changes in the local market, Bajaj Auto remains one of the most profitable auto makers in the world with it now transforming more into a global company with exports accounting for nearly 40% of production.
Rajiv Bajaj, Bajaj Auto MD -
"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,"
Source: TVS Motor pips Bajaj Auto from third spot in local two-wheeler sales - The Economic Times
The Society of Indian Automobile Manufacturers shared this data which shows that TVS has pipped Bajaj for the third spot on the back of strong sales in the scooter and moped sales. Bajaj which at one time was unchallenged for the 2nd largest manufacturer in India has seen a steady decline in market share, with Honda having overtaken the Pune based company and now TVS Motors has moved ahead with a strong presence in the scooter market.
Whether TVS Motors will be able to hold onto this spot in the long run is still to be seen, as till the previous financial year, they were also struggling with a decline in sales. A bunch of new launches in the smaller capacity segment including the TVS Jupiter, has helped turn its fortunes around.
Scooters have been the fastestgrowing segment in the 14-million-unit Indian two-wheeler market and have been driving sales at Hero MoroCorp and Honda Motorcycle & Scooter India as well. Scooter sales grew 29% to 10.10 lakh units in the first quarter ended on June 30. Despite the recent changes in the local market, Bajaj Auto remains one of the most profitable auto makers in the world with it now transforming more into a global company with exports accounting for nearly 40% of production.
Rajiv Bajaj, Bajaj Auto MD -
Quote:
"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,"
Source: TVS Motor pips Bajaj Auto from third spot in local two-wheeler sales - The Economic Times