TVS Lanka, a Premier Automotive company in the country specializing motorcycles, scooters, three-wheelers, spare parts & lubricant business records a groundbreaking performance surpassing all key performance indicators significantly during the financial year of 2014/2015.
“2014/15 performance was very significant and in fact, a major turnaround with Rs.2.7 billion revenue growth which accounts to 60% growth over previous year. PBT has grown even more profoundly by 3 times over the corresponding year. In fact, the Company has now entered into the league of over Rupees One Billion revenue per month in the new Financial Year. Further, with this turnaround performance main product lines both two-wheelers and three-wheeler have contributed almost equally, making the Business Model more sustainable.” said Chief Executive Officer of TVS Lanka Ravi Liyanage.
Very focused strategic initiatives deployed during the year had reaped rich rewards. Re-positioning and rationalization of product portfolio, identifying and targeting strategic market segments, re-launching of promising five new models with new value proposition for better consumer engagement, productivity enhancement and expansion of dealer network, re-structuring of island-wide service and spare parts network, competency enhancement of staff and sales force in particular, process re-engineering and Customer Relationship Management to enhance net promoter’s score from the existing users paid dividend during the period under review, added Ravi Liyanage.
Service is pursued as one of the key competitive advantage behind the brand TVS and island-wide service network and spare part network for both two-wheelers and three-wheelers had been expanded and developed to reach both number and high quality two-wheeler service/spare parts network represents 645 and three-wheeler service/spare parts network 570.
To enhance service quality TVS also has been partnering with Vocational Training Institute of Sri Lanka on a regular basis to train their instructors and develop skills and competencies of potential technical professionals they produce to the Automobile sector that TVS represents.
“Innovative five new product launches had gained overwhelming consumer response. These new entries includes; probably Sri Lanka’s most stylish scooter TVS Scooty Zest 110cc with state-of-the-art technology such as, Econo Power Meter, Telescopic Suspension, More spacious, Tubeless Tires, Easy center stand, LED Break Light and with 4 color variations. TVS Metro 110cc bike to up-scale the entry category, TVS KING Fully Loaded (FLD) with 35 customized modifications, TVS KING MAX – the 1stSri Lanka’s Fiber Hooded and made out of Fiberglass Re-enforce Plastic in which the final product is environmental friendly , TVS KING Fun Bread (FB) to empower SMEs in Sri Lanka,” indicated confidently by Hashan Haputhanthri, Head of Marketing TVSL.
TVS Motor Company, the flagship of 100-year-old, over USD 7.2 billion TVS Group, is one of India’s leading two-wheeler manufactures and among the top seven in the world. The company has 3 manufacturing plants in India and one in Indonesia. Present in over 57 countries worldwide, TVS Motor Company is renowned for innovation and currently owns 600 + patents.