Nano won't affect us, says TVS
Two-wheeler manufacturer TVS Motor Company said on Sunday that it would not be impacted by the launch of Tata Motors ₹1 lakh car— 'Nano'. The company has no plans to enter the four-wheeler as is being done by its arch rival Pune-based Bajaj Auto Ltd.
'Today used cars are available for ₹1 lakh. Our two-wheelers are available for half the price and have twice the mileage. Customers will continue to buy two-wheelers even if they opt for the ₹1 lakh car,' TVS chairman Venu Srinivasan told newsmen.
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Outlining the companies' overall strategy for the next few years, he said the company would focus on launching new two-wheeler and three-wheeler models in the domestic and export markets. 'We aim to increase our production from 2 million to 4 million units in the next 2-3 years. We will target south east Asian and South American markets for exports,' he added.