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The company today launched an advanced version of its performance motorcycle 'Apache' with an 160 cc fuel injection engine, priced at Rs 64,990 (ex-showroom, New Delhi).
"The worst is over for bikes as the industry has started gaining momentum at about 10-15 per cent after last year's slump. Inflation will have an impact on economy but two wheeler industry will grow due to cost effectiveness," TVS Motor Company Head (Marketing) H S Goindi told reporters here.
The company is aiming to grow at a rate of 15-20 per cent and is targeting to sell 1.5 million units in the current fiscal, company's Vice-President (Sales) R Dilip said.
TVS Motor is also targeting to increase its market share to 18 per cent from the current 16 per cent by March, 2008, he added.
"The company has strengthened its presence in the premium segment with this launch and we are planning to introduce two more products in this category by the end of this year," TVS Motor Company General Manager (Marketing) K Ramakrishnan said.
The new 160 cc Apache RTR FI would come with a 15.7 bhp fuel injected engine. The company plans to sell 12,000 units of Apache bikes in the current fiscal.
Goindi said the company also expects to grow its exports by 40 per cent this year with volumes to 53 countries that it exports slated to increase.
"We are also looking for new markets in the ASEAN region, and our plant in Indonesia will be playing a role in it," he added.
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