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TVS Motor launches StaR City+ at Rs41,500

LiveMint logoLiveMint 23-05-2014 PTI

New Delhi: TVS Motor Co. on Friday launched the 110cc commuter motorcycle StaR City+, starting at `41,500 (ex-showroom Delhi), as it looks to enhance its presence in the below-125cc segment.

The Chennai-based firm, which currently sells Star City and Sport models in the below 125cc segment, aims to enhance its market share with the launch of the new model.

“The below-125 cc segment is around 6 lakh units per month. We currently sell around 35,000 units in this vertical. With the launch of this new model, we expect to sell around 45,000 units per month in the next 2-3 months,” J.S. Srinivasan, vice-president, sales, TVS Motor Co., said.

With the additional sales of 10,000 units of the 109.7cc StaR City+, the company aims to enhance its market share in the commuter segment (below 125 cc) to around 8-9% from the current 6%, he added.

The bike, which would replace the existing StaR City model in the next 1-2 months, has been launched in two variants, priced at `41,500 and `44,000 (ex-showroom Delhi).

The company is also eyeing 25% rise in domestic sales this fiscal on the back of new product launches.

“This fiscal we are looking to sell around 1.85 lakh units in the domestic market mainly on account of Jupiter and StaR City+. It would be a growth of 25% from last fiscal when we sold 1.48 lakh units per month,” Srinivasan said.

The Indian motorcycle market is estimated to be around 9 lakh units per month, out of which around 6 lakh units fall in the commuter segment, he added.

When asked about exports, Srinivasan said: “We are exporting around 25,000 units per month currently. Our major overseas markets include the African countries and various Asian nations like Sri Lanka and Bangladesh”.

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