TVS Motor launches Scooty Zest at Rs 42,300, eyes 18 per cent market share

Two and three-wheeler manufacturer TVS Motor Company on Wednesday launched an upgraded variant of its popular scooterette, the Scooty Zest, expanding its portfolio in the segment.

Launch of new 110cc scooterette comes under TVS' strategy of introducing a new product in every quarter. Last quarter the company launched 110cc motorcycle Star City+.

"We are trying to keep pace with the change in Indian society. We have introduced 110cc (scooterettes) Jupiter, Wego... The scooter category is fastest growing segment at 26 per cent and we believe it will reach 30 per cent," TVS Motor Company Vice Chairman and Managing Director Venu Srinivasan told reporters in Chennai.

The company claims the new scooterette, which is available at Rs 42,300 (ex-showroom New Delhi), would offer 62 km per litre.

"Scooty became (the) most well known brand when it was launched 15 years ago. Scooty Zest takes (it) to a new level and it is for people who look for more power and comfort," he said.

He said the company would not rule out existing Scooty Pep+ and Scooty Streak models and those two products would be available along with Wednesday's launch. "Zest is addition to (our) existing Scooty range," said Srinivasan.

TVS Motor Company Chief Executive Officer K N Radhakrishnan said the firm had made an investment of Rs 70 crore in this product, which is manufactured at the Hosur plant.

"Currently our market share is 15 per cent. We are looking at taking up to 18 per cent (market-share) in the overall two wheeler segment..", he said, adding that scooterette industry was around 30,000 units per month.

Asked whether the low price point offered to Scooty Zest would 'cannibalise' the company's other products Jupiter and Wego, Srinivasan said, "Each product has (a) clear independent position. Wego is for a married woman with a single child. This is for young girls in the age group of 18 to 25 years".

He said that though Jupiter, Wego and Zest were made on the same platform, each product was "distinctly" positioned.

On roll out of new products, he said the company would launch Victor, motorcycle, in the next six months.

"Right now we have the scooters ranging from basic Scooty Streak all the way to Jupiter. In another six months you will see Victor joining them (existing motorcycles Sport, StarCity+, Phoenix and the Apache)," he said.