TVS Motors eyes larger market share in BangladeshAugust 10th, 2008 - 1:31 pm ICT by IANS
Dhaka, Aug 10 (IANS) With the launch of TVS Motor’s motorcycle ‘Flame’ in Bangladesh, the Indian scooter and motorcycle maker is keen to hike its share of the Bangladeshi market of two-wheelers from eight percent to 12. TVS Auto Bangladesh, the local distributor, unveiled plans for the hike, to take place within the next eight months as the company expects Bangladesh’s two-wheeler market to boom in coming years, the New Age newspaper reported.
“On an average 100,000 motorcycles will be sold every year in Bangladesh. And we hope we will be able to grab 12 percent market share in next eight months,” said TVS Motor India’s vice president (international and domestic business) H.S. Goindi Saturday.
Although car prices have gone down, the demand for motorcycles is expected to increase following the recent fuel price hike, Goindi said, adding that he believed TVS Flame would become popular in Bangladesh as it can run 65 miles a litre of diesel.
The government recently adjusted diesel price at 55 taka a litre from 40 taka.
Sixty Bangladeshi taka equals one dollar or about Rs.40.
TVS Auto Bangladesh Ltd is a 50:50 joint venture between TVS and Rian Motors of Bangladesh.
The company commenced operations in July last year.
According to company officials, it has sold 7,000 motorcycles of different brands in Bangladesh since then.
Bangladesh’s motorcycle market is mainly dominated by Indian brands such as Bajaj, Honda, Hero Honda, and TVS.
According to industry insiders, Bajaj is the market leader with 40 percent market share, followed by Hero Honda’s 35 percent.
Chinese made motorcycles take the rest of the market.
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