“In India, the infrastructure is growing fast and the disposable income is growing too. People are exploring and spending more,” Vimal Sumbly, head of premium business at TVS Motor, told reporters in Kolkata after launching TVS Apache RTR 310 in West Bengal. “We aim to have a bigger market share in this category…Our aim is to increase the volume of the premium motorcycle segment in the country” he added.
Sumbly also said people, and particularly the Gen Z, are now moving from buying a product to buying an experience. TVS Motor is thus aiming to not only offer premium bikes but sell merchandises, offer various add-ons and customisations, and roll out community programs to tap the burgeoning interest.
“There is a lot of momentum and this premium segment is growing at 10%-15%. The premium industry size is 16-17% in India of overall two-wheeler sales at the moment and TVS enjoys the second position in the market,” he said.
With the addition of TVS Apache RTR 310 in its portfolio, TVS Motor now offers premium motorcycles ranging from 160 cc to 310 cc displacements.
TVS is exporting its two-wheelers across all categories to around 55 countries with a global sales volume of one million annually and is keen to expand the footprint, he added.”Our objective with the new launch is to increase the volume of premium segment. We will soon go to Latin America with our new launch RTR 310,” Sumbly said.