industry

TVS Motor eyes network expansion in Central America


MUMBAI: Chennai-based two- and three-wheeler maker TVS Motor is keen on expanding its business in Central America even as sales continue to be slow in the home market amidst an economic downturn.

The company on Thursday partnered with Motomundo SA with plans of opening up to three exclusive dealerships in Honduras in the coming one year, according to a press statement. The Indian company’s sales will also be handled by Motomundo through 40 of its multi-brand outlets.

“With this partnership, we will be able to offer customised products with complete service and spare parts for our customers and consolidate our presence in the region,” said R Dilip, executive vice president – international business, TVS Motor Company.

In El Salvador, the company opened a flagship showroom with CADISA. The latter had already partnered with TVS to establish its sales in the neighbouring country of Guatemala. The company also launched six two-wheelers in the country, namely Apache RR 310, Apache RTR 160 4V, Apache RTR 160 2V Race Edition, Apache RTR 180 Race Edition, Apache RTR 200 4V Race Edition 2.0. and NTORQ 125 scooter.

TVS Motor Company will also be present in 100+ multi-brand outlets and over 150 retail stores across Central America, the statement read, adding that the range of two-wheeler offerings will be supplemented with attractive retail finance schemes.

According to data from the Society of Indian Automobile Manufacturers (Siam), the company’s two-wheeler exports grew by 14% to about 573,000 units during April–January period over last year. Meanwhile, three-wheeler exports for the company grew by over 18% to 135,000 units.

This comes as a respite when the domestic sales are declining every month. In January, TVS Motor sold about 163,000 units in the domestic market, down almost 29% over last year. Two-wheeler sales across manufacturers were down 16% during the month.





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