India’s big three two-wheeler makers on Monday hit out at NITI Aayog’s plan to push for 100 per cent electric vehicle, saying such a transition is completely uncalled for and could jeopardise the industry.
Arguing that changing from conventional two-wheelers to 100 per cent electric is “not like Aadhaar, not a software and print cards”, the companies said concerns of all stakeholders must be taken into consideration instead of imposing adoption of EVs.
Leading two-wheeler makers Bajaj Auto and TVS Motor Company said Monday that any plan to ban internal combustion engine three-wheelers and two-wheelers to adopt electric ones by 2025 would be "unrealistic" and "ill-timed" and derail auto manufacturing in the country.
The comments come in response to some media reports that the government was considering a proposal to ban sale of internal combustion engine (ICE) three-wheelers by 2023 and less than 150 cc two-wheelers by 2025.
Diversified global giant Mitsubishi Corporation has became a substantial minority stakeholder in TVS Automobile Solutions Private Limited (TASL), one of India’s leading independent aftermarket solutions provider and part of the $8.5-billion TVS group.
The Japanese conglomerate, which was holding a meagre 3% stake in the TVS group company last year, has increased it to 25% by picking up an additional 22% now.
The Indian motorcycle market is taking a turn for the better with several offerings in various segments. You name it and they’ll have it - 150, 250, 300, 400, 600 and so on. A growing number of Indian motorcyclists want more than just a big mileage figure and are happy to accept dopamine-releasing performance and it’s alright if it drinks more fuel.
TVS Motor Company has posted a growth of 4.6 per cent in sales during the month of April, 2019, at 3,18,937 units compared to 3,04,795 units during April, 2018.
Two-wheeler sales grew 4.2 per cent to 3,05,883 units in April, this year, compared to 2,93,418 units during same month last year. Domestic two-wheeler sales grew by 3 per cent to 2,48,456 units compared to 2,41,604 units during the corresponding month in 2018.
New Delhi: TVS Motor Company on Tuesday reported a 19.2% decline in its standalone profit after tax (PAT) to ₹133.8 crore for the fourth quarter of 2018-19. The company had posted a profit after tax (PAT) of ₹165.6 crore a year ago.
Revenue from operations rose to 4,384.02 crore in the fourth quarter, against ₹4,007.24 crore a year ago, TVS Motor Company said in a regulatory filing.
TVS Motor Company has strengthened its position in Bangladesh by launching four new motorcycles there.
The products include premium motorcycle TVS Apache RTR 160 4V single disc, 125cc motorcycle TVS Max 125, 100cc motorcycle TVS Metro special edition and utility vehicle TVS XL100 Heavy Duty i - Touch Start". These products will target the growing customer demand in each of their respective segments.
Shares of TVS Motor Company slipped to a 20-month low of Rs 456 apiece, down 2 per cent on the BSE on concerns of a likely rural slowdown and lower exports.
The stock of the two-wheeler (2W) company was trading at its lowest level since April 7, 2017. It underperformed the market by falling 15 per cent in the past one month, as compared to a 2 per cent decline in the benchmark index S&P BSE Sensex.
The TVS Apache RTR 160 4V lit up the 160cc motorcycle segment, displacing the likes of the Suzuki Gixxer, and the deal is now set to get sweeter with TVS offering single-channel ABS on the smallest capacity Apache. Only the Fi variant gets ABS for now and it is priced at Rs 98,644 (ex-showroom Pune), a premium of Rs 6,999 over the non-ABS variant. This is the only model of the Apache that gets single-channel ABS, with all the bigger models being equipped with a dual-channel unit.
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