TVS Lanka, the automotive company in the country specializing motor cycles, scooters, three wheelers, spare parts & lubricant business has recorded a ground breaking performance surpassing all key performance indicators significantly during the financial year of 2014/2015.
“The 2014/15 performance was very significant and in fact a major turnaround with Rs.2.7 billion revenue growth which accounts to 60 percent 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 almostequally, making the Business Model more sustainable,” Ravi Liyanage, Chief Executive Officer of TVS Lanka.
Very focused strategic initiatives deployed during the yearhad reaped rich rewards.Re-positioning & Rationalization of product portfolio, identifying & targeting strategic market segments, re-launching of promising 05 new models with new value proposition for better consumer engagement, productivity enhancement & expansion of dealer network, re-structuring of island wide service & 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 basisto 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 ofFiberglass Re-enforce Plastic in which the final product is environmental friendly , TVS KING Fun Bread (FB) to empower SMEs in Sri Lanka,” said Hashan Haputhanthri, Head of Marketing TVSL.
TVS Motor Company, the flagship of 100 years old, over US$ 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.
TVS Motor Company has the unique distinction within automotive Industry, being only two wheeler manufacturer to have been awarded the Prestigious Deming Award in 2002. TVS Motor Company is the only Indian Automobile Company which won the Prestigious Deming Award.
TVS KING has gained swift recognition in this business domain and penetrated a sizable share and is now well poised to extend their presence even better to all parts of Sri Lanka. In view of this, the most respected and world renowned Cricket icon Kumar Sangakkara, joined hands with TVS to enhance the brand equity of TVS KING.