As the first Indian automaker to enter the Venezuelan market, TVS Motor

 As the first Indian automaker to enter the Venezuelan market, TVS Motor

Today, the renowned two- and three-wheeler manufacturer TVS Motor Company made the historic announcement of its debut into the Venezuelan market.

According to the company's regulatory filing from today, "this becomes TVS Motor the first Indian automobile company to break into the market with a host of 14 SKUs aimed at the enthusiastic riders of Venezuela."

A variety of high-end 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 other utility vehicles, sporty vehicles, and three-wheelers, are available in this market.

With operations in more than 80 nations throughout Africa, Southeast Asia, the Indian Subcontinent, Latin America, and the Middle East, the firm is ranked among the top five automakers in the world.

Rahul Nayak, TVS Motor Company's Vice President of International Business, commented on the event, saying, "TVS Motor Company has established a standard in catering to the varied demands of consumers throughout the world. As the first Indian manufacturer to join the market in Venezuela, we are thrilled to present the extensive variety of motorcycles, scooters, and three-wheelers produced by TVS Motor. Our entry into this competitive industry is a major step forward for our worldwide growth plan and our aspirations on a grand scale.

"We are excited to join the Venezuelan market with a variety of models from our luxury and commuter two-wheeler and three-wheeler lines. Our entry into the market will open the door for us to investigate further potential in the field of mobility, in keeping with our ideals of putting consumers at the center of our offers, said Martin Corsunsky, Continental Head Americas, TVS Motor Company.

According to the company's October 17 exchange filing, earlier this week the company introduced a new TVS Jupiter 125 equipped with SmartXonnect technology. This scooter features a Bluetooth-connected TFT digital cluster as well as "SmartXtalk" and "SmartXtrack," which support the premiumization journey of the scooter customer.

The successful conclusion of TVS Motor Company and BMW Motorrad's ten-year relationship was just recently celebrated, marking a significant period of cooperation and innovation in the automotive sector. Since the start of this strategic partnership, the two businesses have accomplished outstanding feats, created new standards for the industry, and provided outstanding bikes to clients all over the globe.

In contrast, the company's sales for the month of September increased by 6% to 402,553 units from 379,011 units in September 2022. Sales increased from 361,729 units in September 2022 to 386,955 units in September 2023, representing a 7% expansion in the overall two-wheeler market.

Sales of domestic two-wheelers increased by 6% from September 2022 to September 2023, going from 283,878 units to 300,493 units. According to the company's sales statement, it sold 20,356 TVS iQube Electric units in September 2023 as opposed to 4,923 units in September 2022.