TVS which is selling its TVS King in Petrol and CNG versions is planning to launch Diesel version over the next 3-5 months.
According to Radhakrishnan, this segment growth in the past few years was good due to difference in petrol and diesel price. The current market for Diesel autos is around 30,000 a month.
“Our investment in this would be low, as the design is going to be the same and the target market would be largely domestic market,” he said.
He added, while the southern States of Andhra Pradesh, Kerala and Tamil Nadu are the largest, the company will also focus on other markets including Bihar, Orissa, Rajasthan, Punjab and others, which are developing. “We also need to increase our penetration in Gujarat and Maharastra to increase our market share in overall three-wheeler segment,” he said.
The TVS King is powered by a 200cc single cylinder petrol engine which develops 7.4 bhp.
TVS Motor three wheeler sales for the quarter ended December 2012 stood at 13,602 units against 8,899 units in the quarter ended December 2011, an increase of around 53%.