Today, TVS Motor Company, a worldwide leader in the production of two- and three-wheelers, announced its historic debut in the Venezuelan market.
“This makes TVS Motor the first Indian automobile manufacturer to enter the market with a host of 14 SKUs for the enthusiastic riders of Venezuela, with their local distributor, SERVISUMINISTROS JPG,” the company said in today’s regulatory filing.
This market’s product lineup includes premium motorcycles such as the TVS RR 310, TVS Apache RTR 200 FI, TVS Apache RTR 160, and TVS Apache RTR 200, as well as commuter motorcycles such as the TVS TRAK 150, TVS Sport 100, TVS HLX, TVS Stryker, and TVS Raider, as well as utility vehicles, sporty vehicles, and three-wheelers.
With a presence in over 80 countries spanning Africa, Southeast Asia, the Indian Subcontinent, Latin America, and the Middle East, the firm is among the top five automotive manufacturers in the globe.
Speaking on the occasion, Rahul Nayak, Vice President of International Business, at TVS Motor Company, said, “TVS Motor Company has set a benchmark in catering to the diverse needs of customers globally. We are excited to introduce TVS Motor’s diverse lineup of motorcycles, scooters, and three-wheelers in Venezuela, making us the first Indian manufacturer to enter the market. Our presence in this dynamic market marks a significant achievement for our global expansion strategy and is a historic step towards our global ambitions.”
“We are delighted to enter Venezuela with a host of products across our premium and commuter range of two-wheelers, as well as three-wheelers. In line with our values of keeping customers at the core of our offerings, our foray into the market will pave the way for us to explore newer opportunities in the world of mobility,” said Martin Corsunsky, Continental Head Americas, TVS Motor Company.
According to the company’s October 17 exchange filing, the company launched a new TVS Jupiter 125 equipped with SmartXonnect technology, which includes a Bluetooth-connected TFT digital cluster as well as ‘SmartXtalk’ and ‘SmartXtrack’ that reinforces the premiumization journey of the scooter customer.
TVS Motor Company and BMW Motorrad recently celebrated the successful conclusion of their decade-long relationship, a milestone that underscores their ten years of collaboration and innovation in the automotive industry. Since the formation of this strategic agreement, the two firms have established new industry standards and delivered great bikes to clients all over the globe.
Meanwhile, sales for September increased by 6% to 402,553 units, compared to 379,011 units in September 2022. Total two-wheeler sales increased by 7%, from 361,729 units in September 2022 to 386,955 units in September 2023.
Domestic two-wheeler sales increased by 6%, from 283,878 units in September 2022 to 300,493 units in September 2023. According to the company’s sales report, the TVS iQube Electric sold 20,356 units in September 2023, up from 4,923 units in September 2022.