Keeping the fast growing scooter market in mind, Chennai-based TVS Motor Company on Wednesday launched its much awaited scooty 'Zest 110' following the success of other scooters 'Wego' and 'Jupiter'.
"We started as a moped company and then we became a motorcycle company and now we are offering best and trendy scooters. TVS Motor is now providing a bouquet of quality products to Indian customers at affordable prices," said Chairman of TVS Motor Venu Srinivasan while launching TVS Zest 110.
Scooter segment is growing very fast and while this sector is growing at 29 per cent annually, TVS Motor is growing 54 per cent. That is the reason we currently have 15 per cent of marker share in the scooter segment which is expected to get much better with Zest 110, added Srinivasan.
He said that from the current market share of 15 per cent, the company is looking at taking it up to 18 per cent in the overall two wheeler segment. Srinivasan also said that the new TVS Victor will be launched in the next six months.
Zest 110 is priced at Rs 42, 300 (ex-showroom Delhi) and comes with four exciting metallic colours including for the first time a brilliant turquoise blue, volcano red, black and pearl white variants.
Talking in detail about the product, TVS Motor's President and CEO KN Radhakrishnan said," TVS Zest 110 is for girls and women in the age group of 18-24 who want everything- power, style, mileage and better total cost of ownership. The product will cater to all the aspirations of young girls."
"In the first three months we will sell around 10,000 units of zest 110 and afterwards it can be 15,000 per month," said Radhakrishnan, when asked about sales target of Zest 110. "We have a total capacity of producing 75,000 units of scooter which includes TVS Wego, Jupiter and Zest 110 only. TVS Motor thinks that the current capacity if sufficient to cater to the demands of customers and if needs be, we can increase the capacity with ease," he added.
TVS Wego, Jupiter and Zest 110 share the same engine platform but they cater to different sets of consumers depending upon their aspirations and needs.
Srinivasan also said that the company would not rule out existing Scooty Pep+ and Scooty Streak models and those two products would be available along with the new launch.