Driven by the two-wheeler industry, India has emerged as the world’s largest motorcycle market. The country has also surpassed many countries in cumulative sales and could soon become the largest motorcycle market in the world. It has fired up a gear shift in demand between low-cost, unorganised, and high-end, organised players.
Driven by aspirations, self-image, increasing disposable income and new-age aspirational lifestyle, the rising opportunities have caught the attention of Indian and global players like TVS Motor Company seeking growth through this business segment.
TVS Motor Company have been doing well in the automotive industry, thanks to its focus on developing ideal vehicles for any region and society. TVS’ focus has been on creating high-quality products that meet the demands of sophisticated consumers.
As per a recent report from Motorcyclesdata.
“TVS Motor Global Sales is fast growing this year. In the first seven months, the global registrations have been 1.5 million (+17.9%), projecting the entire year over the 2.7 million, thanks to a combined growth of domestic and international sales.”
The best thing about the current TVS Motor Company strategy is the investment in entrepreneurs with proven track records in the business.
TVS Motor Company has announced an investment in Narain Karthikeyan’s start-up “DriveX” (NKars Mobility Millennial Solutions Private Limited), a pre-owned two-wheeler platform. The company sees strong potential in the pre-owned two-wheeler market, witnessing a structural shift from the unorganised to the organised sector.
Founded by India’s first Formula 1 ace racing driver Narain Karthikeyan, DriveX is a fully integrated model present across the pre-owned two-wheeler vehicle value chain. It includes all core areas, including procurement, refurbishment, and retailing of multi-brand pre-owned two-wheelers.
Narain Karthikeyan, the Indian Superstar of Motorsport, is happy with the investment. He says there are many opportunities to change how car enthusiasts view motorsports and reach out to more people to drive new motorsport products.