TVS Motor Company expects the two-wheeler industry to decline by 5 per cent this year, under the impact of a continuing slowdown.
The two-wheeler industry last year grew 2.4 per cent, while it had grown 15 per cent in 2011-12.
Addressing shareholders at the company AGM, Venu Srinivasan, Chairman, said there is tremendous pressure on buying power of consumers. He expects this year to be more challenging with mopeds remaining flat and motorcycles declining. Scooters may grow,” he said.
TVS plans to launch more motorcycles in the executive segment, an upgraded Starcity bike, an upgraded Scooty and a new Wego male scooter.
Commenting on its Indonesian subsidiary, Srinivasan said the company continues to struggle in Indonesia due to finance denied for its vehicles and pricing pressure from competitors. He expects the subsidiary to break even by the next financial year.