NEW DELHI: Chennai-based TVS Motor Co on Wednesday said it expects sales to grow by over 14 per cent this fiscal and is gearing up to launch two new models toward the end of the calendar year.

"The market is still showing growth, although it is not the same as last year. The industry is expected to grow around 13-14 per cent, while we (TVS) are looking at slightly higher growth than that," TVS Motor Co President (Marketing) H S Goindi told PTI.

For the 2010-11 fiscal, the company had posted a 33.17 per cent increase in sales to 20,46,668 units from 15,36,919 units in the previous fiscal. Its total two-wheeler sales rose by 31.86 per cent to 20,06,808 units from 15,21,939 units in the previous fiscal.

He said it is unlikely that the expectation of around 25 per cent growth in the two-wheeler market will happen this fiscal.

When asked about new product launches, he said the company is gearing up to introduce two new models by the end of the year.

"One will be a motorcycle and the other a scooter," Goindi said, but declined to share further details.

Earlier, the company had said it would re-enter the Indian electric scooter market with some existing and new models during this fiscal.

The company was carrying out test runs of about 50 electric scooters, comprising some of its existing and new models, across various towns in the country.

In April, 2008, TVS had launched electric scooterette 'Scooty Teenz Electric' with high hopes of selling around 40,000 units per year.

However, it had stopped the production since May, 2009, as it received a lukewarm response from the market.
The company had also shelved plans to launch electric three-wheelers.

Source: TVS Motor expects sales to grow over 14% this fiscal - The Economic Times