He said this during the launch of the firm's new offering the entry-level commuter segment the Radeon 110, at an event held here on Thursday.
"To give you a clue about their growth, in the fiscal 18-19 alone, the market share in the commuter segment can be divided into three segments: the economy class, the middle and the upgrade class," said Aniruddha.
While the upgrade segment has contributed 18 per cent (2.5 lakh units), the middle and lower segments contribute significantly higher sales, with 56 per cent (5.2 lakh units) and 27 per cent (1.7 lakh units), according to the vice president of the auto major.
"When we dig deeper, the middle segment further divides into four with the respective market-share: urban salaried (12 per cent), urban self-employed (17 per cent), small town salaried (15 per cent) and small town self-employed (56 per cent)," he added.
Aniruddha gave importance to the small town self-employed segment during the conversation with News Today, saying, "This is the segment we are aiming to capture with our Radeon. We call them the millennials of middle India as they not only work hard but also self-sustain themselves and in-turn contribute to the development of the economy. All they need is a tough machine, a workhorse that's not only fuel efficient but also highly reliable. Our Radeon ticks both these boxes."
TVS aims at selling two lakh vehicles each fiscal tapping into the rural market, he added. The two-wheeler maker has priced the new vehicle at Rs 48,400 (ex-showroom, New Delhi.
Speaking about the specs and features of the new bike, he said, "It get's synchronised braking technology complying with government regulations and also gets a huge list of features including TVS's new unique impact resistant design (UIR)."
The bike has a Dura-Life 110 cc engine, steel tubular chassis, 18-inch wheels, AHO, apart from TVS's claims of it having the largest seat in the segment, highest ground clearance and longest wheel-base in its class.
The bike also comes with a maintenance-free battery, USB charging port and a five-year warranty, he added,
The firm's president and CEO K N Radhakrishnan, said after unveiling the bike, "Radeon is targeted at discerning progressive customers. TVS Radeon boasts of multiple first-in-class features and usage-led design, which offers strength, comfort and style without compromising practicality. I am confident that the bike will find favour with our consumers, who are looking for a strong, comfortable and durable motorcycle."
Adding to his words, the firm's joint managing director, Sudarshan Venu, said, "Over the years, our unwavering focus on quality and reliability has yielded contemporary and attractive products for the market. With segment-leading features, Radeon combines our values to deliver best-in-class durability, performance and attractive styling. We are confident that the customers across the country will appreciate and swiftly adapt to its robust proposition."
|On a launch spree|
|The fiscal 2017-18 has been an active one for TVS as the brand has launched four products in a row including RR 310, Ntorq, RTR 160 4V and the Radeon. In addition, its technology partner BMW has launched two products: the G 310R and G 310GS, extending the duo's offerings.|
|Towards better quality|
|In the recent years, TVS has been focusing more on quality which has enabled the brand to bag the first place in JDP customer satisfaction: 2018 India two wheeler APEAL study. TVS has also brought in some technology bits like series type regulator, projected spark plug, anti-friction moly coated piston, roller follower, TCI ignition system, etc.|