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TVS Motor Company foresees growth in demand for two-wheelers in the country, thanks to a combination of factors that will spur demand in rural areas.
The industry is expecting a double-digit growth in two-wheeler sales this year which remained flat in the last few years. The above normal monsoon, coupled with rising consumer sentiments and long-term fundamental economic changes, is expected to pay off in the second half of this year, said Aniruddha Haldar, Vice-President (Marketing) – Commuter Motorcycles, Scooters & Corporate Brand, TVS Motor Company.
He said two-wheeler sales in India is estimated at 1.5 million a month and is growing at a CAGR of 17-20 per cent. Of this, scooters comprise 35 per cent and the remaining are motor cycles. However, the trend is reverse in Kerala with 67 per cent constituting scooters and the rest motor cycles out of the total 40,000 vehicles sold.
TVS Jupiter Classic edition was launched in the Kerala market here on Tuesday. Haldar said TVS Motor Company, the number 2 player in the country, at present has 16 per cent market share nationally.
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