TVS Motor Company, the flagship company of TVS Group is the third largest two-wheeler manufacturer in India. The company manufactures a wide range of two-wheelers from mopeds to racing-inspired motorcycles. The company also manufactures three-wheelers. The company is listed on NSE with the name NSE: TVSMOTOR. Currently, the share price of TVS Motor is INR 549.30.
TVS Motors, which stands for Trichur Vengaram Sundaram Iyengar Motors, is a prominent motorbike manufacturer in India. It is India’s third-largest two-wheeler manufacturer and one among the top 10 in the world with a revenue of over ₹18,217 crores (over US$2.9 billion) in 2021. It has an annual sale of more than 3 million units and an annual capacity of over 4.95 million vehicles. TVS Motor is also the 2nd largest exporter in India with exports to over 60 Countries. A member of the TVS Group USA, it is the largest company of the group in terms of size and turnover.
TVS places a premium on new product introduction (NPI) teams of roughly 300 engineers who are at the forefront of executing strategic goals for the organization’s new products. Despite the fact that these goods are developed in India, they work with globally known technical partners. It intends to launch six to ten vehicles per year to meet a wide range of needs.
The company has an annual production capacity of 4 million 2 wheelers & 120,000 three-wheelers. It is one of the leading two-wheelers and three-wheeler exporters from India distributing to over 60 countries. The company has manufacturing plants located at Hosur in Tamil Nadu Mysore in Karnataka and Nalagarh in Himachal Pradesh.
It also has one manufacturing unit located at Karawang in Indonesia.
Company History
The initial years
In the year 1979, TVS Group company, Sundaram-Clayton Ltd., started Moped Division at Hosur to manufacture TVS 50 mopeds. In the year 1982, the company entered into a technical know-how and assistance agreement with Suzuki Motor Co Ltd of Japan, and in the year 1985, they incorporated a new company Lakshmi Auto Components Pvt. Ltd. for the manufacturing of critical engines and transmission parts.
In the year 1986, the company acquired the assets of the moped division from Sundaram Clayton Ltd. Also, the name of the company was changed from Indo Suzuki Motorcycles Ltd. to TVS Suzuki Ltd.
In the year 1992, they launched two modes of motorcycles namely Samurai and Shogun and in the year 1993, they launched TVS Scooty.
During 1999-2000, TVS Suzuki Ltd was amalgamated with Sundaram Auto Engineers Ltd., an unlisted group company that was incorporated in the year 1992. As per the scheme, all the assets and liabilities of erstwhile TVS Suzuki Ltd. together with all obligations and contingent liabilities were vested in Sundaram Auto Engineers (India) Ltd with effect from April 22, 1999.
End of a great Joint Venture
This merged entity was later renamed TVS Suzuki Ltd. The TVS group and Suzuki Motor Corporation parted ways from their 15-year-old joint venture on September 27, 2001. Since Suzuki Motor Corporation ceased to be a shareholder of the company, the company could not use the word ‘Suzuki’ as part of their name, and hence the name of the company was changed to TVS Motor Company Ltd.
During the year 2002-03, the new stylish TVS Scooty Pep and the upgraded version of Fiero were launched in the market.
The Products
TVS Motors caters to a wide range of automotive categories, including mopeds (XL, Super XL, Super Heavy Duty, XL 100, XL 100 Comfort), scooters (TVS Scooty pep, Scooty zest 110, Wego 110, Jupiter), motorcycles (Sport, Start city +110, Victor 2016 Phoenix 125, TVS Apache RTR 160, 180, 200 and 200 4V), and three-wheelers (King).
TVS has built a reputation for developing cutting-edge solutions for its product line. It invented products such as the TVS 50, India’s first two-seater moped, the Scooty, India’s first scooterette, the TVS Champ, India’s first digital ignition, the Apache, India’s first bike with an anti-lock braking system, the Jive, India’s first bike without a clutch, and the Wego, India’s first scooter with body balance technology.
TVS has a wide selection of items that cater to mainstream audiences as well as young working professionals, smart independent women, and sports-oriented youth.
Marketing Strategies – What makes TVS so good?
Bike for Anyone
TVS Motors intends to provide a diverse variety of goods to meet the demands of all two-wheeler users. TVS Motor manufactures the largest range of 2-wheelers, starting from mopeds, to scooters, commuter motorcycles, to racing-inspired bikes like the Apache series and the RR310 These motorcycles’ pricing are also affordable and sensible, catering to the financial needs of India’s middle and upper-middle classes. It was also the first motorbike manufacturer in India to introduce low-cost mopeds for the labor class.
Penchant for Quality
TVS Motor has four production factories, one in Mysore, one in Hosur, Himachal Pradesh, and one in Indonesia. So far, the company’s product quality has been more constant. The bikes are durable and dependable.
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Innovation at the Helm
The organization’s strength is in the creation and development of its new products; in 1997, TVS Motors released seven vehicles on the same day, making it the first automotive company to do so. They intend to improve client experience. TVS offers high-quality vehicles to satisfy the ever-changing needs of its consumers and market; the company currently has 15 million customers on the road.
Research and development (R&D)
The firm has a robust research and development (R&D) department that is supported by cutting-edge technology. Their in-house world-class testing facility provides them with a one-of-a-kind environment for evaluating the engines’ noise, vibration, and harshness (NVH) as well as life-time warranty testing.
They are assisted by sophisticated computers in order to produce a good design as well as new product innovations. For over a decade, the team has focused on eco-friendly products, assisting with the reality of global climatic changes and increased carbon dioxide emissions into the environment.
They were successful in developing hybrid products with excellent fuel efficiency, reusable parts, and minimal emissions. Their automatic gearbox system for scooters has received widespread acclaim across the world owing to its extremely low emissions and fuel economy. The TVS R&D department published 81 articles, and they used this research to build a variety of goods that are currently in the market.
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