TVS Motor Company has plans to enter the two-wheeler markets of Argentina and Mexico in order to give a boost to its export figures. TVS will be launching two of its flagship brands, namely Star and Apache into the Argentinean and Mexican two-wheeler markets in order to gain a foothold in these markets.

H.S Goindi, President, Sales, Service and Marketing, TVS Motor Company -

We see tremendous opportunity for growth in exports in these countries. The growth rate is higher primarily because during the same time last year there was a recession hitting these countries and hence the sales were lower and the primary sales from India were even lower. So, that is the reason for the growth rate

The company expects its exports to contribute 25% of its total sales over the next 4-5 years from the current levels of 14-15%. The company also aims to have an 18-20% market share in all of its export markets from the current level of 10%. In order to be able to cater to the demands of the future, the company will be investing Rs. 150-180 crore over the period of the next one year to boost capacity at its manufacturing facilities in Hosur and Mysore.

TVS Motor Company already has a presence in markets of the SAARC countries, and recently showcased its Apache RTR 180 motorcycle and Qube 2.0 concept scooter at the ongoing business fair in Indonesia. The company is also gearing up to unleash its products into the markets of Columbia and Bangladesh over the next couple of years.

Its appears as if TVS has big plans going into the future and by spreading its wings into the various two-wheeler markets of the world, it will definitely become one of the major players in the worldwide two-wheeler space. The company also has big plans for its Indian operations as well, with the launch of exciting products such as the RTR 180 ABS and Scooty Streak Hybrid in the near future.

Source – Money Control