TVS Motors today made its foray into the three wheeler market with the launch of new King. King was launched at a glittering function in Chennai by Mr M.K Stalin, Minister of Rural Development and Local Administration, Government of Tamilnadu. According to TVS, King would be India’s first 200cc two stroke auto rickshaw that will come electric start. The market size for three wheeler market in India is around 18lakh units per year and is largely dominated by players like Bajaj and Piaggio. TVS hopes to sell 1lakh units this year. To achieve this target TVS has launched the King with three engine options – LPG, CNG and Petrol. TVS has also planned to come out with 4stroke and cargo variant of King soon. In addition TVS will also export the King to countries like Sri Lanka, Bangladesh, Latin America, Nigeria, Indonesia and others. TVS would be leveraging its exisiting distribution and service network to market the King. On the road TVS King will cost around Rs1lakh. TVS will first launch the King in southern states and it will be available across India before the end of 2008.
getting into the heart:
To alleviate the problems in getting permits, Goindi Sr VP, international business and three-wheelers, TVS Motors said the company would work with various state governments to clear any misconceptions about this vehicle segment. TVS has also announced a special health insurance scheme for the welfare King buyers. King’s owner and his family (self, wife and three children) are covered by free personal accident-cum-health insurance and they can avail this scheme by paying Rs264 from the second year. The personal accident insurance cover will be for Rs.100,000 and the health insurance cover will be for Rs.30,000. Also, the family will be offered Rs150 every day for a period of six days. TVS Motors also announced another unique recogonition scheme to promote education through which the company will recognize and reward children of TVS king owner/owner driver who secure three highest marks in Class X and Class XII examinations in each state.
