After lying low for over a period of time, TVS Motor Company, the third largest two-wheeler manufacturer in India, is confident of regaining its lost ground through a slew of measures and products. The company is targeting a market share of 18% in the current fiscal as against 15-16% last year, said Venu Srinivasan, chairman and managing director, TVS Motor.

Addressing a select press briefing to announce the company?s Q1 results, Srinivasan said, ?Despite an overall recession, increasing input costs, lack of financing and other bottlenecks, the company hopes to grow in the coming quarters and expects to end the fiscal with a market share of 18%. ?We believe the worst phase is over for us,? he added.

Responding to queries, he said, ?We see that the entry level motorcycles (100cc and 110cc) continue to dominate the market and will grow significantly over the years. TVS will continue to focus on this segment with new products.? Currently, this segment contributes over 70% to the overall sales, he added.

He said, ?The industry will witness some turbulence in the quarters to come due to expected shortfall in the monsoon across the country, an expected steel price hike, overall recession and a possible interest rate hike.? But the company has geared up to tackle all these problems in cooperation with dealers and suppliers/vendors.

?Ultimately, we expect to have a positive cash flow in our hands in the current fiscal,? he added.

He said that 50% of sales come from small and medium towns and it is expected to grow significantly. ?In order to spruce up our sales and to tap the untapped potential in these areas and other places, the company is looking at something on the finance side. We want to do things in a more organised manner,? Srinivasan said. The company is working on the modalities and hopes to announce them in this quarter. However, he declined to give other details.

Following an encouraging response to its recently launched ?Flame?, the company is planning to increase the monthly production to 20,000 by September as against 12,000 now. It has sold over 40,000 Flames since its launch in April, he added. Similarly, the company will spruce up production of Apache, (electric scooterettes), mopeds and three-wheeler ?TVS King?.