Good news for all the TVS fans. Guess what! TVS has decided to introduce upgraded version of their popular motorcycles Apache and Scooty Pep+. TVS Scooty Pep+ is a flagship and popular scooter and Apache has won couple of awards since it was introduced by the company, this is the main reason TVS has decided to go with their upgrades.
Mr. H Goindi (Vice President, Marketing, TVS Motor Co) said that the company has decided to refresh Apache and Scooty Pep because of their popularity quotient. He was also of the opinion that these upgrades will give a new product base to the company. He further said that these two models are selling like hot cakes in Indian market and their upgrades will definitely give people a option to buy.
When asked about the details, Mr. Goindi only said that Apache will have same name and body. However, he denied giving all the details of the bikes being upgraded. Moreover, the quarter 3 has been successful for TVS has they registered an increase in sales and profits. TVS reported a two fold jump as far as profits of Q3 are concerned. The profit after tax reported by TVS in Q3 is 55.75 crore whereas last year in the same quarter TVS registered a profit of 23.54 crore. So, overall the company is floating on profits and has registered humungous increase in profit after tax compared to last year.
TVS has also registered huge increase in their sales as compared to last year, registering a 51.23% as compared to the same quarter last year. In terms of the rupees, TVS’s revenue grew by 1,647 crore from 1,089 crores. Mr. K.G Ramakrishnan (CEO and president of TVS motors) said that all the companies products are doing good and the company will aim to achive higher results in the coming quarters as well.
Speaking on the plans for upgrading their Apache and Scooty, he said that the project is definitely on and is currently under the discussion table. He further said that their might be marginal price increase but also the company is focusing on cost reduction techniques. Mr. S.G Murali (Vice-president Finance) said that the company is always watching the commodities and the price changes will be in accordance to the changes in commodity prices every quarter.
Overall, the picture looks pretty clear that TVS is soon going to launch the upgraded versions of Apache and Scooty Pep +. However, none of the company officials did mention any new specifications about the upgrades. All you can rest assured of is that TVS is going to launch upgrades very soon in the Indian market.