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CONTENTS
SCENARIO OF INDIAN AUTOMOBILE
CHAPTER NO. TITLE
1. TVS MOTORS2. SHANTHI MOTORS3. OBJECTIVES4. METHODOLOGY5. ANALYSIS AND INTERPRETATION6. LIMITATIONS7. FINDINGS & CONCLUSIONS8. SUGGESTIONS & RECOMMENDATION9. APPENDICES10. BIBLIOGRAPHY
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SCENARIO OF INDIAN AUTOMOBILE
During early 60s & 70s, automobiles came largely in twos. In
scooters, you had a Lambretta or a Vespa. In motorcycles, you had a
Bullet or a Java. In cars, you had to choose between an Ambassador and
a Fiat. In trucks, it was either an Ashok Leyland or a Tata. In tractors, it
was between a Swaraj and a Mahindra.
This situation reflected the India of yester years. Economicreforms and deregulation have transformed that scene. Automobile
industry has written a new inspirational tale. It is a tale of exciting
multiplicity, unparalleled growth and amusing consumer experience
all within a few years. India has already become one of the fastest
growing automobile markets in the world. This is a tribute to leaders
and managers in the industry and, equally to policy planners. Theautomobile industry has the opportunity to go beyond this remarkable
achievement. It is standing on the doorsteps of a quantum leap.
The Indian automobile industry is going through a technological
change where each firm is engaged in changing its processes and
technologies to maintain the competitive advantage and provide
customers with the optimized products and services. Starting from the
two wheelers, trucks, and tractors to the multi utility vehicles,
commercial vehicles and the luxury vehicles, the Indian automobile
industry has achieved splendid achievement in the recent years.
The opportunity is staring in your face. It comes only once. If you
miss it, you will not get it again
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On the canvas of the Indian economy, auto industry maintains a
high-flying place. Due to its deep frontward and rearward linkages with
several key segments of the economy, automobile industry has a strongmultiplier effect and is capable of being the driver of economic growth.
A sound transportation system plays an essential role in the countrys
rapid economic and industrial development. The well-developed Indian
automotive industry skillfully fulfils this catalytic role by producing a
wide variety of vehicles: passenger cars, light, medium and heavy
commercial vehicles, multi-utility vehicles such as jeeps, scooters,motorcycles, mopeds, three wheelers, tractors etc.
The automotive sector is one of the core industries of the Indian
economy, whose prospect is reflective of the economic resilience of the
country. Continuous economic liberalization over the years by the
government of India has resulted in making India as one of the primebusiness destination for many global automotive players. The
automotive sector in India is growing at around 18 per cent per annum.
The auto industry is just a multiplier, a driver for employment, for
investment, for technology The Indian automotive industry started its
new journey from 1991 with delicensing of the sector and subsequent
opening up for 100 per cent FDI through automatic route. Since then
almost all the global majors have set up their facilities in India taking the
production of vehicle from 2 million in 1991 to 9.7 million in 2006
(nearly 7 per cent of global automobiles production and 2.4 per cent of
four wheeler production).
The cumulative annual growth rate of production of the
automotive industry from the year 2000-2001 to 2005-2006 was 17 per
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cent. The cumulative annual growth rate of exports during the period
2000-01 to 2005-06 was 32.92 per cent. The production of the
automotive industry is expected to achieve a growth rate of over 20 percent in 2006-07 and about 15 per cent in 2007-08. The export during
the same period is expected to grow over 20 per cent.
The automobile sector has been contributing its share to the
shining economic performance of India in the recent years. With the
Indian middle class earning higher per capita income, more people areready to own private vehicles including cars and two-wheelers. Product
movements and manned services have boosted in the sales of medium
and sized commercial vehicles for passenger and goods transport.
Side by side with fresh vehicle sales growth, the automotive
components sector has witnessed big growth. The domestic autocomponents consumption has crossed rupees 9000 crore and an export
of one half size of this figure.
Eye-Catching FDI Destination INDIA!
India is on the peak of the Foreign Direct Investment wave. FDI
flows into India trebled from $6 billion in 2004-05 to $19 billion in
2006-07 and are expected to quadruple to $25 billion in 2007-08. By AT
Kearney's FDI Confidence Index 2006, India is the second most
attractive FDI destination after China, pushing the US to the third
position. It is commonly believed that soon India will catch up with
China. This may also happen as China attempts to cool the economy and
its protectionism measures that are eclipsing the Middle Kingdom's
attractiveness. With rising wages and high land prices in the eastern
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regions, China may be losing its edge as a low-cost manufacturing hub.
India seems to be the natural choice.
India is up-and-coming a significant manufacturer, especially of
electrical and electronic equipment, automobiles and auto-parts. During
2000-2005 of the total FDI inflow, electrical and electronic (including
computer software) and automobile accounted for 13.7 per cent and 8.4
per cent respectively.
In services sectors, the lead players are the US, Singapore and theUK. During 2000-2005, the total investment from these three countries
accounted for about 40 per cent of the FDI in the services sector. In
automobiles, the key player is Japan. During 2000-2005, Japan
accounted for about 41 per cent of the total FDI in automobile,
surpassing all its competitors by a big margin. India's vast domestic
market and the large pool of technically skilled manpower were themagnetism for the foreign investors. Hitherto, known for knowledge-
based industries, India is emerging a powerhouse of conventional
manufacturing too. The manufacturing sector in the Index for Industrial
Production has grown at an annual rate of over 9 per cent over the last
three years. Korean auto-makers think India is a better destination than
China. Though China provides a bigger market for automobiles, Indiaoffers a potential for higher growth. Clearly, manufacturing and service-
led growth and the increasing consumerisation makes India one of the
most important destinations for FDI.
Automotive Mission Plan 2016
The bumper-to-bumper traffic of global automobile biggies on the
passage to India has finally made government sit up and take notice. In a
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bid to drive greater investments into the sector, ministry of heavy
industries has decided to put together a 10-year mission plan to make
India a global hub for automotive industry.
The ten year mission plan will also set the roadmap for budgetary
fiscal incentives The Government of India is drawing up an Automotive
Mission Plan 2016 that aims to make India a global automotive hub. The
idea is to draw an innovative plan of action with full participation of the
stakeholders and to implement it in mission mode to meet the
challenges coming in the way of growth of industry. Through this
Automotive Mission Plan, Government also wants to provide a level
playing field to the players in the sector and to lay a predictable future
direction of growth to enable the manufacturers in making a more
informed investment decision.
Major players in the automobile sector are: Tata Mahindra Ashok Leyland Bajaj Hero Honda
Daimler Chrysler Suzuki Ford Fiat Hyundai General Motors
Volvo Yamaha
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Foreign Companies in the Indian auto-sector
Until the mid-1990s, automobile industry in India consisted of just
a handful of local companies with small capacities and obsoletetechnologies. Nevertheless, after the sector was thrown open to foreign
direct investment in 1996, some of the global majors moved in and, by
2002, Hyundai, Honda, Toyota, General Motors, Ford and Mitsubishi set
up their manufacturing bases.
Over the past four to five years, the country has seen the launch of
several domestic and foreign models of passenger cars, multi-utility
vehicles (MUVs), commercial vehicles and two-wheelers and a robust
growth in the production of all kinds of vehicles. Moreover, owing to its
low-cost, high-quality manufacturing, India has also emerged as a
significant outsourcing hub for auto components and auto engineering
design, rivaling Thailand. German auto-maker Volkswagen AG, too, is
looking to enter India.
India is expected to be the small car hub for Japanese major
Toyota. The car, a hot hatch like the Swift or Getz is likely to be exported
to markets like Brazil and other Asian countries. This global car is
crucial for Toyota, which is looking to improve its sales in the BRIC
(Brazil, Russia, India, China) markets.
Two multi-national car majors Suzuki Motor Corporation of
Japan and Hyundai Motor Company of Korea have indicated that their
manufacturing facilities will be used as a global source for small cars.
The spurt in in-house product development skills and the uniquely high
concentration of small cars will influence the country's ability to becomea sourcing hub for sub-compact cars.
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A heartening feature of the changing automobile scene in India
over the past five years is the newfound success and confidence of
domestic manufacturers. They are no longer afraid of competition fromthe international auto majors.
For instance, today, Tata Motor's Indigo leads the popular
customer category, while its Indica is neck-to-neck with Hyundai's
Santro in the race for the top-slot in the B category. Meanwhile M&M's
Scorpio has beaten back the challenge from Toyota's Qualis to lead the
SUV segment. Similarly, a few Indian winners have emerged in the
motorbike market the 150 and 180 cc Pulsar from Bajaj and 110 cc
Victor from the TVS stable. The 93 cc Bike from Bajaj and 110 cc
Freedom bike from LML have also emerged as winners.
Evidently, Indian players have learnt from past mistakes and
developed the skills to build cheaper automobiles using `appropriate'technologies. TVS, for instance, paid an overseas source $100,000 to
fine-tune home-grown engines rather than $1.5 million to import the
entire engine. Similarly, M&M adapted available systems and off-the-
shelf components from global suppliers to keep costs down and go for
aggressive pricing. True, Indian players are still lacking in scale of
operation. While economies of scale no doubt play an important role inthe auto sector, a few Indian manufacturers relied on innovation rather
than scale of operation for competitive advantage. For instance,
Sundram Fasteners was able to achieve the feat of directly supplying
radiator caps to General Motors purely on the strength of innovation in
product quality. The domestic tooling industry bagged the order for the
Toyota Kirloskar transmission plant in the face of stiff competition from
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multinational corporations. The cost of the entire job turned out to be
only a fraction of the original estimate.
As the automobile industry has matured over the past decade, the
auto components industry has also grown at a rapid pace and is fast
achieving global competitiveness both in terms of cost and quality.
In fact, industry observers believe that while the automobile
market will grow at a measured pace, the components industry is poised
for a take-off. For it is among the handful of industries where India has a
distinct competitive advantage. International automobile majors, such
as Hyundai, Ford, Toyota and GM, which set up their bases in India in the
1990s, persuaded some of their overseas component suppliers to set up
manufacturing facilities in India.
Consequently, the value of cumulative output of the autocomponents industry rose rapidly to Rs 30,640 crore at end-2003-04
from just Rs 11,475 crore in 1996-97. Foreign companies such as Delphi,
which followed General Motors in 1995, and Visteon, that followed Ford
Motors in 1998, soon realised the substantial cost advantage of
manufacturing components in India.
Finding the cost lower by about 30 per cent, they began exploring
the possibility of exporting back these low-cost, high-quality
components to their global factories and, thus, reducing their overall
costs. Not surprisingly, the industry's exports registered a more than
four-fold jump to Rs 4,800 crore in 2003-04 from just Rs 1,033 crore in
1996-97.
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Automobile majors such as Maruti Udyog, Toyota, Hyundai have
now finalised their plans to invest in some of the critical auto
components. According to the Automotive Component ManufacturersAssociation of India (ACMA) officials, auto component manufacturers
are expected to invest about Rs 10,000 crore over the next five years at
the rate of Rs 2,000 crore per annum.
According to analysts, the auto component industry could emerge
as the next success story after software, pharmaceuticals, BPO andtextiles. The size of the global auto component industry is estimated at
$1 trillion and is set to grow further. Against this backdrop, McKinsey's
latest report has estimated that the sector has the potential of increasing
its exports to $25 billion by 2015 from $1.1 billion in 2004.
Threat to the Dream!
Indias expedition to become a global auto manufacturing hub
could be seriously challenged by its inability to uphold its low-cost
production base. A survey conducted by the research, KMPMG firm
reveals that the Indian auto component manufacturers are increasingly
becoming skeptical about sustaining the low-cost base as overheads
including labour costs and complex tax regime are constantly rising.
The survey said many executives believe that Indias cost
advantage is grinding down fast as labour costs are constantly
increasing and retaining employees is becoming more and more
difficult. Increased presence of global automotive companies in the
country was cited as one of the reasons for the high erosion rate.
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Indian auto businesses will only flourish if they boost investments in
automation. In the longer term, cost advantage will only be retained if
Indian capital can be used to develop low-cost automation inmanufacturing. This is the way to preserve our low cost.
Global auto majors are also cynical about Indias low cost
manufacturing base. India taxation remains a big disadvantage. This is
not about tax rates it is just about unnecessary complexity. But some
companies also believe there is scope for reducing the cost of doingbusiness.
In spite of this there are opportunities to exploit lower costs right
across the board. Its true that labour costs are definitely increasing but
they are still five per cent of the total operational costs. The labour costs
can be further reduced if companies are successful in bringing downother costs like reducing power costs. Low-cost base can never last long.
The company said Indian industry has till now relied on very labour
intensive model but it would have to switch to a more capital intensive
model now.
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ABOUT TVS COMPANY
TVS Motor Company is one of the premiere automobile companies
in India. The word TVS stands for TV Sundaram Iyengar and Sons
Limited which is the holding company for the TVS Group of companies.
The firm is engaged in the manufacturing of almost all kinds of
automotive components, two wheelers and a few other industrial
products. The company was founded by TV Sundaram Iyengar in 1911.
The company is headquartered in Chennai and its manufacturing and
R&D units are located at Mysore and Hosur, near Bangalore, and Baddi
in Himachal Pradesh. TVS Motor Company is the first two-wheeler
manufacturer in the world to be honored with Deming Prize for Total
Quality Management.
TVS Motor Company Limited is the third largest two-wheeler
manufacturer in India and globally among the top ten. It is the flagship
company of TVS Group, a USD 2.2 billion conglomeration of companies. At
present, the group is comprised of more than 30 companies and employs
more 40,000 people worldwide. Its dealer and service network is widely
spread in India.
TVS has enjoyed a steady growth since its inception. It has
continuously expanded and diversified, and brought in new verticals within
its fold. Today it boasts a strong presence in the manufacturing of two-
wheelers, auto components and computer peripherals. The company is also
involved in the distribution of heavy commercial vehicles, cars, finance and
insurance. With such a portfolio, the company contributes a lot to Indian
economy.
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The company launched the first of its two-wheeler product in 1980. It
was a 50cc moped, which was successful because of its capability to carry
two people. It collaborated with Suzuki Motor Corporation of Japan, for themanufacture of 100 cc motorcycles under the brand name of Ind-Suzuki
Motorcycles. Subsequently, the company changed its name to TVS Suzuki
Ltd. However, the collaboration with Suzuki was only for motorcycles. The
collaboration with Suzuki ended in 2001 and thereafter, the name was
changed to TVS Motor Company. The company has set up an overseas
manufacturing unit in Indonesia.
Quick Facts
Founder T V Sundaram Iyengar
Country India
Year of
Establishment
August 1980 (TVS Group in 1911)
Industry Manufacturing of two-wheelers and auto
components
Business Group TVS Group
Listings & its codes NSE
TVS - Suzuki Ltd: TVSSUZUKI
TVS Motor Company Limited: TVSMOTORTVS Motor Company Limited: TVS-SUZUKI
BSE
TVS Motor Company Ltd.: 532343
Head Office TVS Motor Company
Jayalakshmi Estates V Floor
8, Haddows Road, Chennai - 600006
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Tel.: +(91)-(44)-28272233
Fax: +(91)-(44)-28257121
Factory Post Box No. 4Harita, Hosur - 635 109
Tel.: +(91)-(4344)-276780
Fax: +(91)-(4344)-276878
Post Box No.1
Byathahalli Village, Kadakola PostMysore - 571 311
Tel.: +(91)-(821)-2596561
Fax: +(91)-(821)-2596550/ 2596553
TVS Motor Company is the third largest two-wheeler
manufacturer in India and one among the top ten in the world, withannual turnover of more than USD 1 billion in 2008-2009, and is the
flagship company of the USD 4 billion TVS Group.
A Bike for Anyone
TVS Motor currently manufactures a wide range of two-wheelers
from mopeds to racing inspired motorcycles.
Motorcycles (Apache RTR, Flame DS 125, Flame, Jive, StaR City, Sports)
Variomatic Scooters (Wego, Scooty Streak, Scooty Pep+, Scooty Teenz)
Mopeds (TVS XL Super, TVS XL Heavy Duty)
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Penchant for Quality
The company has 4 plants - located at Hosur and Mysore in South
India, in Himachal Pradesh, North India and one at Indonesia. The
company has a production capacity of 2.5 million units a year.
Innovation at the helm
TVS Motor's strength lies in design and development of new
products - the latest launch of 7 products on the same day seen as a first
in automotive history. We at TVS deliver total customer satisfaction by
anticipating customer need and presenting quality vehicles at the right
time and at the right price. The customer and his ever changing need is
our continuous source of inspiration.
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COMPANYS HISTORY
Company Effective April 21, 2009.TVS Motor Company Ltd.: History
1982
The company was incorporated as Indian Motorcycle Pvt. Ltd. on15th July. Its name was changed to Indo Suzuki Motorcycles Pvt.
Ltd. and it was converted into a public limited company on 12th
January, 1984. It was promoted by Mr. N. Krishnan incollaboration with Suzuki Motor Co. Ltd. Japan; Sundaram-
Clayton, Ltd., a member of the Company to the extent of Rs 70
lakhs.
The company entered into a technical know-how and assistanceagreement with Suzuki Motor Co. Ltd., of Japan on 22nd
September. As per the terms of the Colloboration, Suzuki agreed to
furnish complete technical information and know-how, trade
secrets and other data.
All shares taken up by promoters etc. 1984 The company received a letter of intent for the manufacture of
20,000 spark ignition operated out board motors and 30,000
internal combustion spark ignition engines upto 500cc per
annum.
59,40,000 shares issued at par in 1984. 7,00,000 shares allotted toSundaram Clayton, Ltd. Chennai, 70,000 shares allotted to Anusha
Investments (P) Ltd. Chennai, 20,00,000 shares allotted to Suzuki
Motor Co., Ltd., Japan; 2,20,000 shares allotted to employees and
business associates and 29,70,000 shares offered to the public.
1985
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A new company "Lakshmi Auto Components Pvt Ltd." wasincorporated for the manufacture of critical engines and
transmission parts. 1986 The company acquired the assets of the moped division from
Sundaram Clayton Ltd. The cost of acquisition was met partly by
rights issue of equity shares. The company subscribed to
39,20,000 equity shares of Rs.10 each of Lakshmi Auto
Components Pvt Ltd, whereupon it became a subsidiary of the
company. The name of the company was changed from Indo Suzuki
Motorcycles Ltd. to TVS Suzuki Ltd with effect from 18th August.
154,00,000 Rights Equity shares issued at par in prop. 2:1. 1988 The company obtained a letter of intent for expanding the capacity
to 4,00,000 Nos. two wheelers. 1989
The working was adversely affected due to labour unrest whichresulted in a lock-out from 28th February 1990. The lock out was
lifted in the second week of June 1990. 1990
The company launched a 34cc miniped to take advantage of theMotor Vehicle Act that exempts such vehicles from the payment of
road tax. The Company worked for only 10 months due to lock-
out. 1991
The technical aid agreement entered into with Suzuki Motor Co.,Japan which expired in August 1991 was extended for three more
years with the approval of the Government of India.
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1992
The Company launched two new models of motor cycles viz.`Sumurai' and `Shogun'.
1993
The Company launched a new model of moped viz. `TVS Scooty'.
1995
The Company was studying the feasibility of opening a secondplant at a different location to meet the growth in demand for two
wheelers in the near future. It also proposed to introduce
upgraded version of mopeds. In addition, during the year, the
Company undertook to develop new models of motorcycles.
1996 The company is taking steps to meet the increase in demand for
its products and improve the market share.
A statement relating to the subsidiary, M/s Lakshmi AutoComponents Limited, Chennai, and a copy of its annual accounts
for the year ended 31st March, 1996 are attached to the Balance
Sheet pursuant to section 212 of the Companies Act, 1956.
As per the requirements of section 217(1)(e) of the CompaniesAct, 1956 read with the Companies (Disclosure of Particulars in
the Report of Board of Directors) Rules, 1988, the information
regarding conservation of energy, technology absorption and
foreign exchange earnings and outgo are given in annexure I to
this report.
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1997
TVS-Suzuki plans to set up an auto ancillary estate through jointventure with some of its existing components suppliers. Theproposed project is to come up at a new 57 - acre site near TVS-
Suzuki's existing plant at Hosur.
Leading two-wheeler manufacturer in the country, TVS Suzuki,will soon set up a new 2.5 lakh capacity scooter plant in Mysore.
TVS-Suzuki (TSL) - a joint venture between the TVS group andSuzuki Motor Corporation, Japan - was the first company to launcha 100-cc motorcycle in the Indian market.
Credit Analysis & Research Ltd (Care) has assigned the creditrating of CARE AA+ (double A plus) to the proposed non-
convertible debenture issue of Rs.100 crore by TVS-Suzuki Ltd
(TSL).
TVS Suzuki is a joint venture between Saundaram Clayton Ltd. ofthe TVS group and Suzuki Motor Corporation, Japan.
The company proposes to introduce kick start facility. TVS Suzuki Ltd (TSL), the second largest two-wheeler
manufacturer in the country, will be restructuring its entire
vendor-base in the next five years with the objective of creating
robust vendors to meet its future expansion plans.
TVS Suzuki Limited is officially launching its new moped model,the XL Super.
The Rs. 100 crores non-convertible debentures of TVS-SuzukiLimited rating of AA + (high safety with higher standing) has been
retained by CARE.
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1998
TVS Suzuki Ltd, one of the leading two-wheeler manufacturers inthe country, has crossed the Rs.1,000-crore turnover mark in1997-98.
TVS will be the first company in the country to introduce the 4stroke scooter in the Indian market.
TVS' new-generation state-of-the-art four-stroke scooter Spectra,of which we gave you an exclusive preview last month, was
launched in spectacular fashion at the TVS Millennium Show onOctober 1 in New Delhi.
TVS Suzuki Ltd on October 1 launched its new generation 4-strokescooter `TVS Spectra' in Delhi.
1999
TVS Suzuki is all set to launch a scaled-down version of Spectra --the recently launched four-stroke scooter.
The company is set to launch Spectra on a nation-wide basis inApril.
Suzuki has indicated to the TVS group that if it did not agree to theJapanese company's acquiring a majority stake, it should allow
Suzuki to set up a 100 per cent subsidiary.
2000
The Company, pioneers of Indo-Japanese motorcycles in thecountry, has launched its latest offering, Suzuki Fiero, in the
Kerala market.
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The Tamil Nadu based TVS-Suzuki has launched the 150 CC four-stroke powerhouse Suzuki Fiero in Tamil Nadu, close on the heels
of its launch in Rajasthan, Karnataka and Kerala. Two-Wheeler major, TVS-Suzuki Limited is set to create a special
cell to tap the institutional segment.
The Company proposes to relaunch its four-stroke scooter,Spectra, in July.
Two-wheeler major TVS Suzuki is all set to cross the magic onemillion mark durisng the current fiscal with 12 new models linedup over the next 18 months.
Motocycle giant, TVS Suzuki, has forged an alliance with BrandDotcom to leverage the latter's online expertise brand building on
the Net.
TVS-Suzuki Ltd on August 30th, formally launched itsindigenously developed 4-stroke motorcycle, TVS Victor, here. Theprice has been fixed at Rs 41,187, (ex-showroom, Chennai).
The TVS group and Suzuki Motor Corporation September 27parted ways from their 15-year-old joint venture with the former
buying out the 25.97 per cent stake of the Japanese company for
Rs 9 crore.
2002
TVS Motor Company Ltd has informed that the Board declared aninterim dividend of Rs 9.00 per share on 2,31,00,070 equity shares
of Rs 10/- each fully paid up, aggregating to Rs 231.00 million.
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2003
TVS Motor Company has recorded a market share of 35% frommotor cycles division
K.S.Bajpai has been appointed as an Additional Director on theBoard.
TVS, Bajaj Auto and Yamaha have grabbed the market share fromthe country's largest motor cycle maker Hero Honda.
The TVS victor sales has crossed 4 lakh unit mark in less than 18months of its launch.
TVS Motor has recorded a 31% growth in its sales. C V R Panikar has been appointed as Additional Director on the
Board of TVS Motor Company Ltd.
TVS Motor Company has reintroduced Fiero, inorder to competewith Bajaj Pulsar.
TVS Motor Company Ltd has introduced its own racing bikeswhich Team TVS will test on the tracks in Asian Circuit.
TVS Motor launched 4 new mobikes including a new brand 100-ccmobike called the Centra.
TVS Motor Chairman and MD Venu Srinivasan has been selected inBusiness Week's Stars of Asia which covers the top 25 achievers in
the continent.
TVS Motor Company adds two new models in two-wheelersegment.
TVS Motor ties up with State Bank of India for scooter andMotorcycle financing.
Launches Fiero F2 and Scooty Pep models
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Board of approves the merger of engine components division of itssubsidiary, Lakshmi Auto Components (LAC) with TVS Motors
effective from April 2, 2003
2004
TVS Motor, on Jan 5 launched Centra, a 100 cc four-stroke motorcycle, with variable timing intelligent (VTI) engines, claiming to
give more mileage to consumers. The Centra has bundled price,
style, power along with fuel efficiency making it a fill-once-a-month bike, and it's priced at Rs.36,990. nearly Rs 100 crore
investment had gone into the launch of 'Centra', including R&D,
plant and machinery.
TVS Motor Company Unveil TVS Centra With ' VT-i Engines',, a 100CC 4 stroke motorcycle
TVS Motor Company launched its new bike - TVS Centra - here onFebruary 9, 2004, for the first time in the State. It is a 100-cc four-
stroke motorcycle targeted at the popular segment and a Fill-it-
once-a-month bike, competitively priced at Rs. 36,990. The vehicle
has been launched in January in the metros and other cities and so
far 8,000 vehicles had been sold in the country.
TVS Motor Company and Union Bank of India (UBI) haveannounced the launch of `Union Miles Scheme,' an exclusive two-
wheeler finance scheme
TVS Motor Company (TVS) launches new 125cc, 4-stroke VictorGLX motorcycle in Chennai on May 02, 2004
TVS Vice President resigns TVS Motors forges alliance with Andhra Bank Canara Bank, TVS Motor rolls out TVS Canmobile
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TVS picks up Asian Network for Quality award TVS unveils new version of 'Victor GX'
2007
TVS Motor Company introduced its entry-level 4-strokemotorcycle - TVS Star - in the Kerala market
TVS rolls out Star bike in Andhra Pradesh TVS Motor Company launches TVS Centra VT-i, a variant of its
four-stroke 100cc model TVS Centra on May 6 TVS Motor rolls out two motorcycle variants named Victor EDGE,
StaR City and Scooty Pep plus
2008
TVS Motor appoints new President TVS launches Apache in Vizag TVS Motor Company launched a new version of 125 cc Victor GLX
with an electric start option
2009
TVS Motor Co, has rolled out seven new vehicles, including its firstthree-wheeler and a new 125 cc bike, aimed at gaining lost share
in a highly competitive market.
2011
TVS Motor Company launched Scooty Streak, which is its latestscooterette targeted at girls of 16 to 20 age group.
TVS Motor Company Limited has appointed Mr Prince Asirvathamas an additional and independent director of the board of
directors
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TVS GROUP
TVS Group is one of India'soldest business groups. It is a giant
conglomerate with presence in diverse fields like automotivecomponent manufacturing, automotive dealerships and electronics.
Today, there are over thirty companies in the TVS Group, employing
more than 40,000 people worldwide and with a turnover in excess of
USD 2.2 billion.
TVS Group originated as a transport company in 1911. TVSundaram Iyengar and Sons Limited is the parent and holding company
of the TVS Group. TV Sundram Iyengar and Sons Limited has the
following three divisions:
TVS and Sons: TVS and Sons is the largest automobile distribution
company in India. It distributes Heavy Duty Commercial Vehicles, Jeepsand Cars. TVS and Sons represents premier automotive companies like
Ashok Leyland, Mahindra and Mahindra Ltd., and Honda. The company
is also one of the leading logistics solution providers and has set up
state-of-the-art warehouses all over the country. TVS and Sons has also
diversified into distributing a range of Garage equipments.
Sundaram Motors: Sundaram Motors distributes Heavy Duty
Commercial Vehicles, Cars, and auto spare parts for several leading
manufacturers. The company is also the dealer for Ashok Leyland,
Honda, Fiat, Ford and Mercedes Benz.
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Madras Auto Service: Madras Auto Service distributes automotive
spare parts for all leading manufacturers.
Other major companies of TVS Group are:
TVS - Motor Company Limited: TVS Motor Company Limited is one of
the largest two-wheeler manufacturers in India. It manufactures
Motorcycles, Mopeds, Scooterettes and Scooters.
TVS Electronics Limited: TVS Electronics was incorporated in 1986 in
collaboration with Citizen Watch Co. of Japan. The company
manufactures a complete range of computer peripherals.
Axles India Limited: Axles India was promoted by Sundaram Finance,
Wheels India and Eaton Corporation for the manufacture of axles formedium and heavy duty commercial vehicles in India.
Brakes India Limited: Brakes India is a joint venture between TV
Sundram Iyengar and Sons Ltd. and Lucas Industries Plc., UK. The
company manufactures braking equipment for automotive and non-
automotive applications.
Sundaram Polymers Division: Sundaram Polymers Division
manufactures Engineering Plastic compounds for various applications.
Harita Finance Limited: Harita Finance Ltd is a finance company under
the TVS Group. It deals in retail finance, hire purchase, leasing and bill
discounting.
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Harita Finance Limited: Harita Finance Ltd is a finance company under
the TVS Group. It deals in retail finance, hire purchase, leasing and bill
discounting.
India Motor Parts and Accessories Limited: It is engaged in the
distribution of automobile spare parts.
India Nippon Electricals Limited: It is a joint venture between Lucas
Indian Service and Kokusan Denki Co Ltd., Japan. The companymanufactures Electronic Ignition Systems for two wheelers and portable
gensets.
IRIZAR TVS (P) Ltd: IRIZAR TVS (P) Ltd. is a joint venture between
Sundaram Industries Ltd, Ashok Leyland Ltd and IRIZAR S. Coop of
Spain. The company builds bus bodies for export and domestic market.
Lakshmi Auto Components Limited: The company is a subsidiary of
TVS-Suzuki. It manufactures gears, crankshafts and connecting rods for
TVS-Suzuki motorbikes and mopeds.
Lucas Indian Service: Lucas Indian Service is a wholly owned
subsidiary of Lucas-TVS Ltd., engaged in the sales and service of auto-
electricals and fuel injection equipment.
Lucas - TVS Limited: Lucas-TVS, a joint venture between Lucas Varity
group, UK and TVS Group, is a leading manufacturer of auto electrical
products and diesel fuel injection equipment in India.
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Sundaram Brake Linings Limited: Sundaram Brake Linings is the
leading manufacturer of brake linings in India.
Sundaram-Clayton Limited: Sundaram - Clayton Ltd manufactures
complete range of air brake actuation system - compressors, actuators,
valves, brake chambers, spring brakes, slack adjusters, couplings, hoses,
switches and vacuum boosters for light/medium and heavy commercial
vehicles and trailers. Foundry Division manufactures aluminum, gravity
and pressure die-castings.
COMPANY PROFILE
TVS Motor Company (TVS-M) one of the largest two wheeler
manufacturers in India, started manufacturing in 1979. TVS-M currently
manufactures a range of two wheelers namely motorcycles, scooters,
scooterettes and mopeds in its plants located at Hosur (in Tamilnadu)and at Mysore (in Karnataka). Our subsidiary M/s Lakshmi Auto
Components Ltd (LAC), the Engine component division has been merged
with TVS-M, so the annual report of 2003-04 comprises of both. Our
market share is around 22 %. TVS-M is also the market leader in the
moped segment enjoying a share of 69 %. The combined capacity as of
march 04 is more than 1.6 million vehicles and the annual turn over wasRs. 28,560 million (2003-04). TVS-M also exports its bikes as SKDs and
CKDs to African and South Americ
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Products
Motorcycles
TVS AX 100 TVS Fiero TVS Samurai TVS Shaolin TVS Shogun TVS Apache (150 cc,13.7 Ps @8500rpm) TVS Apache RTR 160 TVS Apache RTR 160 EFI (Electronic Fuel Injection) TVS Apache RTR 180 (17.3ps) TVS Centra TVS Fiero TVS Fiero F2 TVS Fiero FX TVS Flame TVS Flame (125 cc,ccvti technology) TVS MAX 100 TVS MAX R 100 TVS Star TVS Star City TVS Star Sport TVS Supra TVS Victor (110 cc) TVS Victor EDGE (125 cc) TVS Victor GLX (125 cc)
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Scooterettes
TVS Scooty KS (60 cc) (2nd Largest used Scooter in India) TVS Scooty ES (60 cc) TVS Scooty Pep (90 cc) (3rd largest used scooter in India) TVS Scooty Pep + (90 cc) TVS Teenz (60 cc) TVS Streak (90 cc)
Stepthru
TVS NEO 110
Mopeds
TVS 50 (The most used moped in India and its subcontinent, has
been manufactured 11,26,325 (its variants and derivates included)
times (August 2005) and still going on in service.
TVS XL (60 cc) TVS Eco TVS Champ (50 cc) TVS Super Champ (60 cc) TVS Sport (70 cc) TVS XL Super (70 cc) TVS XL Super Heavy Duty (70 cc)
TVS Apache
TVS Apache is an exciting offer from TVS. A powerful blend of
contemporary design and engineering, TVS Apache is superbly styled with
fantastic finish. The mighty machine has sleek finish with lines that flow
smoothly and seamlessly.
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TVS Centra
TVS Centra is an efficient bike in the popular 100 cc segment in India.
Thanks to the VTI (Variable Timing Intelligent) engine technology, it is one
of the most fuel efficient bikes in India. Coming with a slew of innovative
technologies and superb design, the bike promises style, mileage and riding
comfort.
TVS Fiero F2
TVS Fiero FX 2 is a dynamic looking body with lots of power packedfeatures. The all-new twin pod instrument cluster comprises the speedometer
and trip tachometer. Triple rated 5-step shock absorber at the rear and
hydraulically damped front suspension imparts stability and comfort.
TVS Scooty Pep+
TVS Scooty Pep+ is an addition on TVS Scooty Pep. The two-wheelerhas been successful all over the market due to its sleek dual tone body with
complementary colored mirrors, appealing body lining and 5 different types
of metallic colors.
TVS Star
The TVS Star is TVS' entry-level bike that challenges the dominance
of the Bajaj CT 100 in the economy-segment. TVS has launched different
kinds of motorcycles which are marketed with all customized specifications.
TVS Super XL
TVS Super XL has been incorporated with all features a two-wheeler
needs to sell itself. The vehicle has been designed with rural vehicles in
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mind. With proper safety, speed and easy-to-ride features, it has been able to
taste success in its target market.
TVS Victor
TVS Victor is an impressively styled powerful motorcycle. The bike is
available in new graphics and alloy wheels, which accentuate its sporty style.
The fuel tank has rounded lines with an aircraft styled fuel filler lid.
ENERGY CONSERVATION POLICY
Energy policy energy
TVS Motor Company is committed to
Energy conservation through
Optimization of usage & loud, continuous
Auditing and climinating wastages .
We are also committed to energy saving
By using alternative methods, efficiency
Improvement using non-conventional
Resources minimizing waste generation
& encouraging recycling .
We shall comply with the energy
Legislation and regulation and build
Awareness among all employees for
Total involvement in energy conservation
Drive
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Milestones of TVS Motor
1980 India's first 2 seater 50cc Moped TVS 50, launched in
Aug.1984 First Indian Company to introduce 100cc Indo-Japanese
motorcycles in Sept.
1994 Launched first indigenous Scooterette (sub-100 cc
variomatic scooters), TVS Scooty in June.
1996 Introduced first catalytic converter enabled
motorcycle, the 110cc Shogun in Dec.
1997 Launched India's first 5-speed motorcycle, the Shaolin
in Oct.
2000 Launched TVS Fiero, India's first 150 cc, 4 stroke
motorcycle in April.
2001 Launched TVS Victor, 4-stroke 110 cc motorcycle, in
August, India's first fully indigenously designed and
manufactured motorcycle.
2004 Launched TVS Centra in January, a world-class 4-stroke
100 cc motorcycle with the revolutionary VT-i Engines
for best-in-classmileage.
Launched TVS Star in Sept, a 100 cc motorcycle which is
ideal for rough terrain.
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AWARDS
Star of Asia Award to Mr. Venu Srinivasan, CMD TVS MotorCompany by Business Week International.
He was also honoured with Doctorate in Science by University ofWarwick, United Kingdom.
Mr Venu Srinivasan was conferred with the prestigious JRD TataCorporate Leadership Award for the year 2004.
Engineering
The Deming Prize
TVS Motor Company is the only two-wheeler company in theworld to be awarded the world's most prestigious and coveted
recognition in Total Quality Management
Technology Award 2002 from Ministry of Science,Government of India for the successful commercialization of
indigenous technology for TVS Victor Asian Network for Quality Award
2004 - TVS Scooty Pep won the prestigious 'Outstanding Design
Excellence Award' from Business World and National Institute of Design
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Progressive Manufacturer 100 Award
TVS wins coveted 2009 Progressive Manufacturer 100 Award for
end-to-end automation of the entire business process of its lubricantbrand, TVS TRU4
TPM Excellence Award 2008
First category by Japan Institute of Plant Maintenance (JiPm)
Management
Emerging Corporate Giant in the Private Sector awarded by TheEconomic Times and the Harvard Business School Association of India.
Best Managed Company award from Business Today, one ofIndia's leading business magazines.
Most Investor friendly company by Business Today, one of India's
leading business
The 'Good Advertising' award by Auto India Best Brand Awards
2009.
SAP ACE AWARD 2007
The company won the SAP ACE 2007 Award for Customer
Excellence in the Most Innovative Netweaver Category.
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TEAM TECH 2007 Award -
TVS Motor Company bags TEAM TECH 2007 Award of Excellence
for Integrated use of Computer Aided Engineering TechnologiesTVSwins coveted 2009 Progressive Manufacturer 100 Award
TVS motor company awarded the total productive
maintenance (TPM) excellence award
TVS Motor wins TPM Excellence Award by Japan Institute of Plant
Maintenance
New Delhi: The Japan Institute of Plant Maintenance (JIPM) has
awarded the coveted Total Productive Maintenance (TPM) Excellence
Award to TVS Motor Company in the first category. The company won
the award for its exemplary implementation of TPM processes in its
Plant II in Hosur and its Mysore plant. The TPM Excellence Award is themost prestigious award presented to organizations, which have attained
excellence in equipment performance. Mr. M. Muthuraj, Senior Vice
President (Operations) received the award on behalf of the company at
a ceremony held in Yokohama, Japan on Wednesday.
The award was conferred in acknowledgment of the performance
and proficiency of TVS Motor Companys state-of-the-art manufacturing
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facilities and TPM process implementation in its Hosur and Mysore
plants. The TPM Excellence Award indicates that the company has been
consistent in terms of significant business results and performanceindicators on Quality, Cost, Delivery, Productivity, Morale and Safety.
The journey towards excellence is endless and team TVS is
always committed to attaining higher level targets. It is the combined
effort and hard work of all the team members, which has resulted in us
being awarded the TPM Excellence award. Such recognitions definitelyboosts the morale, determination and zeal of the team and induces a
spirit to achieve even better operational excellence and business
results, said Mr Venu Srinivasan, Chairman, TVS Motor Company.
This is the second time that TVS Motor Company has bagged this
esteemed award. In 2004 the Engine Component Division at Hosur hadreceived the distinguished honor in recognition for excellence in
application of TPM methodology.
By implementing TPM processes in its plants, TVS Motor Company
has achieved significant results in quality and cost effective
manufacturing. Zero accident has been achieved in both plants and
productivity has improved by 35%.
This award reflects our ultimate goal to constantly endeavor to
maintain high levels of efficiency resulting in superior products which
meets the aspirations of rapidly maturing customers Mr. Srinivasan
added.
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TVS Motor Company Limited, the flagship company of the USD 2.7
billion TVS Group, is the third largest two-wheeler manufacturer in
India and among the top ten in the world, with an annual turnover ofover USD 740 million. The company is the only two-wheeler
manufacturer in the world to be honoured with the hallmark of Japanese
Quality The Deming Prize for Total Quality Management.
TVS Motors wins two IT awards
HOSUR: TVS Motor Company Limited has won two IT Awards, the
SAP ACE 2008 Awards for customer excellence and the 2008 Symantec
South Asia Visionary Award.
While the company won the SAP ACE Award for digitization of
new product development process in SAP by implementing PLM
(Product Lift Management), the Symantec South Asia Visionary Award
was conferred for the way the company secured and managed system
and information, a company press statement said here on Friday.
The SAP ACE Award recognizes achievement of business
excellence through implementation of SAP projects.
Approximately 150 organisations participated across India for this
award. The award is given to different categories of Industries
leveraging SAP to achieve business excellence, the release said.
It is indeed an honour for TVS Motor Company to win the SAP ACE
Award for the second consecutive year. PLM helped us to assimilate
customer experience and connect it to drawing board and also will help
us in systematic introduction of new product by mee ting quality, costs
and delivery targets. The Symantec Award was also a prestigious
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achievement for us. TVS Motor Company was chosen out of 25
participants in South Asia for this award'' said, Mr T G Dhandapani,
Corporate Chief Information Officer, TVS M otor Company, who receivedthe awards on behalf of the company. - PT
Research and Development
The Companys R&D team has a strong technical talent pool and
modern computer aided laboratory, capable of developing new and
innovative styles and designs. It also has state-of-art facilities for enginetesting, NVH measurements and life testing.
At present, more than 450 engineers are working on the
development of new products and in other advanced areas of
technology. The Company works with leading technological research
laboratory and institutions.
The Companys R&D is cognizant of 2010 emission norms and is
focused on ensuring complete compliance in all its products. The
Company is also working on development of fuel-efficient technologies
and alternate fuel technologies to take care of emerging needs of the
consumers and environment.
The Company has applied for over 200 patents and its R&D team
has published 44 technical papers in national and international
conferences.
In addition to the requirements of domestic markets, the R&D
team has developed products for ASEAN markets. The team has also
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developed three wheelers. TVS Racing Group, which is an integral part
of the R&D ,participated in the major two-wheeler racing events in the
country and won nearly 90% of the events. Information technology ERPsystem is used to integrate all the business processes across the
Company.
The Company has also integrated its dealers and suppliers into its
IT systems. During the year 2007-08, the Company has implemented
Product Lifecycle Management system to digitize the new product ofnew products into the market. It integrates different processes within
the Company and enables electronic collaboration with product
development vendors.
The Company has also introduced Business Intelligence tool to
get quick access to information through dashboards for effectivedecision-making.
COMPANY PERFORMANCE
New Product Launches and Initiatives During the year 2007-08,
the Company launched various newproducts and variants.
TVS Flame
This is the hottest riding experience sporting many first time
features (in the executive segment) like the embedded trafficators,
Instant Mileage Indicator, Delta Edge exhaust andglove box. Flame
sports are volutionary 3 Valve CCVTi engine which delivers best in class
mileage without compromise on power. With this launch, the Company
will actively compete in the executive segment.
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Apache RTR
This 160cc Apache launched in the growing premium segment,
was declared Performance Bike of the year 2008 by Auto BusinessStandard Motoring , NDTV and Overdrive. It also bagged the NDTV Car &
Bike Award for Best Design of the year.
StaR Sport
The new StaR Sport with superior style, refreshing graphics,
pleasing colours and contemporary design became an instant hit. Moreimportantly , this bike delivers the best mileage in its class.
StaR City 110 cc
An upgrade of the existing and highlysuccessful StaR City, this
newmotorcycle packs a more powerfulpunch with increased power and
higherfuel efficiency with VTi technology.
Scooty TeenZ Electric
This new entrant in the TVS Scooty family is an electric eco-
friendly scooter. This will address the growing demand for electric
scooters in India. Scooty TeenZ Electric has been launched in Gujarat
and Maharashtra. During the year 2008-09, this product will be made
available across the country.
TVS Tru4 Oil
TVS Tru4 oil has been indigenously developed by the Company in
association with BPCL. This is specifically designed for smooth clutch
operations, smoother gearshift and enhanced engine protection
providing an ultra smooth biking experience for the customer. This
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product has been certified by JASO (Japanese Automotive Standards
Organisation ) for MA2 with API 20W40 grade.
Motorcycles
In this category, the Company faced a steep decline of 33%
during2007-08. The Company's motorcycle portfolio was largely
dependent on StaR brand of motorcycles and the impact of non
availability of retail finance was severe. Launch of TVS Flame was
delayed due to litigation on usage of twin spark plug. While the legal
process is still going on, in order to avoid business disruption , the
Company has launched TVS Flame with a single spark plug without
compromising on any of the performance parameters . With the
complete product range now available, the Company hopes to reverse
the decline and grow during 2008-09.
Un geared scooters Scooty Pep+ continues to be the market leader
in sub 100ccmarket. Emergence of electric scooters segment has
affected TVS Scooty sales marginally. The newly launched TeenZ
Electricwill address this issue. This product is also rated the best
amongst the competing brands by Overdrive Magazine (June2008
issue). The Company will also be launching a new variant of Scooty and
a big scooter during the year 2008-09 to expand its customer base.
Mopeds
Mopeds grew by 19% and increased its market share to 95%
from 89% in the previous year. Focused efforts on non-south states
have helped to achieve this growth.
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International Business In 2007-08, export business saw steep
growth of 32% as compared to 28% in the previous year. During this
period, 5 more countries were included, taking the total countries towhich the Company exports to 53.
Three Wheeler Operations
The three wheeler industry has grown at a compounded average
growth rate (CAGR) of 12% over the last 5 years to reach 5 lakh units in
2007-08. Passenger segment accounts for 73% and balance being goods
carriers. In addition to domestic demand, exports offer an attractive
opportunity. The Company launched its three wheeler, TVS King in two
variants . two stroke petrol and two stroke LPG in March 2008. The
product comes with many first time features in the industry and delivers
higher comfort and convenience, better fuel efficiency and more
importantly superior style to give pride of ownership to the drivers. The
product has received encouraging response from the market. TVS King
has been launched in selected towns and will be gradually extended to
allover India by December 2008.
TVS MOTOR COMPANY LIMITED
The Company plans to introduce four stroke version in Petrol, LPG
and CNG fuels for domestic and export markets during 2008-09.
OPPORTUNITIES AND THREATS
Growth in two wheeler demand would come mainly from rising
population in relevant age and income groups and increasing use of
personal transport.
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The StaR brand stands to gain from this, but the current retail finance
situation may hinder its growth in the current year.
Apache RTR is gaining popularity with the younger male
population. To retain this segment of customers, who are very conscious
about style and performance, frequent refreshes and upgrades are
required.
The executive segment accounts for over 50% of the motorcycle
category. The recently launched TVS Flame has been well received bydiscerning customers.
The Company has a strong presence in the sub 100cc ungeared
scooter segment. However, the Company has no presence in the large
scooter format which accounts for 70% of the total ungeared scooters.
The Company plans to launch a new product during the year to
target these customers. Emergence of electric scooters, especially in the
context of rising fuel prices provides a new avenue of growth.
OPERATIONS REVIEW
Quality
The Company has significantly improved the quality performance
of all its products through a systematic task force approach. The fact
that the Company came out with Industry first five year extended
warranty program on StaR brand is a testimony to its manufacturing
quality.
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TQM
The Company continues to benefit from 100% participation of
employees in TQM activities. The employees have completed more than
1,200 projects through QC Circles and Cross Functional Teams. The
average number of suggestions implemented per employee was 69
during 2007-08.
Cost Management
The Company continues its rigorous focus on costs through aneffective deployment system. Value engineering and aggressive global
sourcing projects are being pursued to reduce material costs and also to
partially neutralize input material cost increase.
TPM is practiced in all the plants to ensure significant
improvement in productivity and reduction in manufacturing cost.
During 2007-08, the Hosur and Mysore plants were awarded the
TPM excellence certificate by the Japanese Institute of Plant
Management (JIPM).
Research and Development
The Companys R&D team has a strong technical talent pool and
modern computer aided laboratory, capable of developing new and
innovative styles and designs. It also has state-of-art facilities for engine
testing, NVH measurements and life testing. At present, more than 450
engineers are working on the development of new products and in other
advanced areas of technology. The Company works with leading
technological research laboratory and institutions. The Company fs R&D
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is cognizant of 2010 emission norms and is focused on ensuring complete
compliance in all its products. The Company is also working on
development of fuel-efficient technologies and alternate fueltechnologies to take care of emerging needs of the consumers and
environment. The Company has applied for over 200 patents and its
R&D team has published 44 technical papers in national and
international conferences. In addition to the requirements of domestic
markets, the R&D team has developed products for ASEAN markets.
The teamhas also developed three wheelers.
During the year 2007-08, the Company has implemented Product
Lifecycle Management system to digitize the new product development
process. This solution will help in faster introduction of new products
into the market.
Supply Chain Management
During the year, the Company streamlined its global sourcing
operations apart from strengthening its domestic supply base. Supplier
cluster programmes enabled transfer of best practices from the
Company to the suppliers and also among the suppliers. The domestic
dealership network was further strengthened with addition of 48
dealers in 2007-08. The Company now has 604 exclusive dealers and
over 2,500 authorised sub dealers and service centres. The customer
loyalty programme . Smiles forever - has been upgraded and revamped.
The current customer base of the CRM programme is over 4.3 lakh
members PT TVS Motor Company Indonesia PT TVS Motor Company
Indonesia, a subsidiary of the Company, has established a manufacturing
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facility at Karawang (near Jakarta), Indonesia with an annual capacity of
3,00,000 units. The new product exclusively developed for the
Indonesian market was launched during 2007-08 in select markets. Theresponse from the customers has been extremely satisfactory. Apache
RTR launched during 2007-08 has also caught the fancy of Indonesian
customers. The Company has established a network of 25 dealers as on
31st March 2008 and plans to add another 125 during 2008-09.
HUMAN RESOURCE DEVELOPMENT
The Company focuses on attracting the best talent through
strategic recruitment from reputed Engineering Colleges and Business
Schools across the country. Managers are developed through structured
foundation programs in association with reputed institutions. The
Company sponsors managers to overseas and inland universities for
developing their capabilities to handle new technologies and
management practices. They are also deputed to international
conferences and seminars to gain global exposure. Leadership
development programs have been institutionalized as part of career
development for senior executives. Career development workshops help
identifying the high potential talents. This is reinforced with robust
development plans supported by reward and recognition system. The
Company has developed a blueprint for creating Centers of Excellence in
the key business processes. These Centers of Excellence build
competencies required for the present and the future to provide
competitive advantage. The Company continues to maintain its record
on industrial relations with not a single day of work being lost because
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of labour unrest. As on 31st March 2008, the Company had 4,284
employees on its rolls.
ENVIRONMENT, HEALTH & SAFETY
An integrated EHS Management System is instituted both at Hosur
and Mysore units. Both the sites have been certified under ISO 14001 for
Environment Management System and under OHSAS 18001 for
Occupational Health Safety Management System. The Company
continues to excel in key environmental performance areas, achieving a35% reduction in fresh water consumption, 45% per unit reduction in
landfill waste disposal and 33% reduction in paint sludge generation. In
line with the World Environment Day . 2008 theme g Kick the Habit -
Towards Low Carbon Economy h, the Company is making a conscious
effort to reduce its Carbon Foot print. Accordingly, it has taken various
energy conservation measures like the use of waste heat from central
power plants, use of energy efficient motors, use of CFL lighting systems,
use of natural lights, special V Belts in machine drives etc. The eventual
goal is to become a Carbon Neutral Manufacturing Company.
COMMUNITY DEVELOPMENT AND SOCIAL RESPONSIBILITY
Srinivasan Services Trust (SST) is a trust co-sponsored by TVSMotor Company with the vision of building self-reliant rura
communities. SST extended its coverage to 363 villages, serving a
population of 3.71 lakhs. Some of the significant achievements are
Regular income of over Rs.4,000/- per month for 14,446 families. No
case of Infant and maternal mortality in the project areas.
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Morbidity caused by poor sanitation & hygiene reduced from
37% to 13%. 100% enrolment of children in Balwadis and Schools.
1,12,000 hectares of degraded forest land reforested. 5,830 hectareswere covered under Watershed Program.
CAUTIONARY STATEMENT
Statements in the management discussion and analysis report
describing the companys objectives, projections, estimates and
expectations may be gforward looking statements h within the meaning
of applicable securities laws and regulations. Actual results could differ
materially from those expressed or implied. Important factors that could
make a difference to the Companys operations include, among others,
economic conditions affecting demand supply and price conditions in
the domestic and overseas markets in which the Company operates,
changes in the Government regulations, tax laws and other statutes and
incidental factors.
INTERNAL CONTROL AND THEIR ADEQUACY
The Company has a proper and adequate Internal control system
to ensure that all the assets of the Company are safeguarded and
protected against any loss and that all the transactions are properly
authorised, recorded and reported.
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Specialization
TVS Apache RTR 180: The new member of the TVS Apache stable
TVS, the maker of the popular Apache RTR brand, released TVS
Apache RTR 180cc bike last month, the new member of the Apache
family. The Apache bikes are racing bikes. If you are looking for a bike
which is stylish and powerful at the same time, then this is the bike for
you. The Apache RTR 180 comes with superb aerodynamic design. TVS
mainly made changes in the engine which made the major difference in
the performance of this bike. The new Apache RTR 180 will compete
with Bajaj Pulsar 180cc and Bajaj Pulsar 200cc bikes, Yamaha FZ-S bike.
TVS is also planning to launch another motorcycle in India by the end of
this year and it would start exporting its Apache RTR 160 FI to North
America at the same time.
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The various objective of apache rtr 180 are :
Split bull horn rails:
The split bull horn rails not only adds up to the motor cycles stylequotient but also helps the pillion rider to get a good grip thus ensuring
safety. The split bull horn design is the result of input gathered from
thousands of palm types and grab holdings.
Style and graphics:
The stylish graphics of TVS Apache RTR 180 makes it a stand outfrom the crowd. The racing stripes, luminous rims, aerodynamic
airscoops and race crouch mirrors makes it lean mean racing machine.
Aerodynamic airscoops:
The aerodynamic airscoops makes sure that cool air flows
towards the engine unit to cool it down.
Engine fairing:
The engine fairing adds up to the aero dynamic design of the TVS
Apache RTR 180. It also protects RTR engine from harsh road
conditions.
Lightweight stylish alloys:
The lighth weight alloys does not add up too much weight at the
same time they can withstand the toughest surface.
Forged brake lever:
The forged brake lever and gear lever set of the Apache RTR 180
gives it a distinctive look.
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Removable rear fender:
The Apache RTR 180 comes with a replaceable mud flap
Engine:
The Rev happy oversquare engine truly upholds the ingenuity of
TVS engineers. This engine won the TVS Apache RTR 160 the
performance bike of the year award from BS Motoring and Overdrive &
NDTV car and bike awards.
Roto petal disc:
The Apache RTR 160 was the first Indian bike to come with the
Roto Petal disc with a diameter of 270 mm. It helps in sharp braking and
the large size of the disc ensures quick heat dispersion. The Apache RTR
180 comes with roto petal disc on both front and rear wheels.
Digital speedo console:
The backlit digital speedo console gives out necessary information
about the motor cycle such as, two trip logs, max speed and so on.
LED Tail lamp:
The stylish LED (Light Emitting Diode) tail lamp consumes less
energy and shines more brightly and ensures high visibility at any
weather condition.
Head Lamp:
The head lamp and park lights are integrated into the cowl. It
provides good visibility.
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Poly shock absorbers:
The poly shock makes the TVS RTR 180 a tough motorcycle that
can run on any terrain. Be it a smooth road, or rough road filled withpotholes. The poly shock absorber takes the rebound from a shock and
dissipates it as heat energy.
Clip on handle bars:
The clip on handle bar of the TVS RTR 180 is designed based on
racing insights. The handle bar consists of two units- the two differenthandle bars and base unit. The handle bars are joined with the base unit
in such a way that it gives the rider a racing posture. The clip on handle
bar is also adjustable according to the riders height.
Wide tubeless tyres:
The wide tubeless tyres of TVS RTR 180 ensure high stability forthe rider on all types of roads.
Stylish exhaust:
The roar says it all for TVS RTR 180. Designed with great care, the
exhaust not only releases the gas produced from internal combustion
but also adds up to the overall style icon of the bike.
Foot pegs:
The rear set foot pegs is fitted in such a way that is gives the
rider a sporty stance while riding the bike. The foot pegs of TVS Apache
RTR 180 are lightweight and contribute to the power to weight ratio.
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Price:
TVS Apache RTR 180 will cost Rs.64,000 (ex-showroom).
TVS Apache RTR 180 specification
Dimensions, weight and color:
Length: 2085.00 mm
Width: 730.00 mm
Height: 1100.00 mm
Kerb weight: 137 kg.
Maximum payload: 130 kg.
Colors: White, gray, yellow and black.
Other specifications:
Ground clearance: 180 mm
Saddle height: 790 mm
Chassis type: Double cradle sychrostiff.
Fuel tank capacity: 16 ltrs
Reserve fuel tank capcity: 2.5 ltrs.
Battery: 12v. 9.0 AH
Headlamp: 12V 35/35W Halogen HS1, Clear lens with MFR.
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Taillamp: 0.5 W LED twin-triangle with prism on
Wheel Type: Six spoke magnesium alloy wheels.
Wheelbase: 1326.00 mmFront rim size: 1.85 X 17
Rear rim size: 2.15X17
Front wheel size: 90/90 x 17
Rear wheel size: 110/80 x 17 mm
Front suspension: Telescopic Forks (105 mm strokes)
Rear suspension: Mono tube inverted gas filled shocksFront brake type: 270 mm petal disc.
Rear brake type: 200 mm petal disc.
Brake fluid: Dot 3.
Engine:
Engine type: Single cylinder, air cooled, four stroke.Displacement: 177.4 cc.
Max Power: 17.3bhp @ 8500rpm
Max Torque: 1.58kgm @ 6500rpm
Maximum speed: 124 kmph.
Bore: 62.5 mm.
Stroke: 57.8 mm.
Compression ratio: 9.5:1
Carburettor: Mikuni BS-29.
Valve train: Two valves, overhead cam.
Valves per cylinder: Two valves.
Power to weight ratio: 124.08 bhp/tonne.
Starting: Electronic and kick start.
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ABOUT SHANTHI TVS
SHANTHI TVS is a proprietary concern started on 19 th December
1997 by Mr. Dhamodar V Shanbhag a resident of shirali . Having a good
reputation and hailing from reputed business family. It located BH Rd,
Shimoga which is very best place for such type of unit.
Working hour of SHANTHI TVS is between 10.00 am to 6.30pm
and helpline breakdown service is available for 24hrs within city limit.
For the convenience of the customer and smooth running of the concern,
the unit has been divided into various section.
Spare part devison
Work section
Sales department
SHANTHI TVS also made the automated workshop in 05 January
2005. Generally all kinds of repairs and services like Reconditioning
,lathwork ,firefighting etc are carried out in automated workshop for the
smooth working of workshop. Under the workshop in charge there are
two skilled mechanics and two mechanics cum electricians and under
each of them there are two helpers.
The mechanic in the workshop are talented and have efficient and
have attend various training camp organized by TVS COMPANY .
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The various machines and tools installed in workshop are
Hydraulic ramp
Pneumatic tools Tools board Special tools Engine jig Air compressor Air inflator
Bench vice Impact driver General tools Verneir Timing light Battery charger
Battery tester Hydro meter Soldering iron Spark plug cleaning machine Air gauge Water wash machine Multi meter Compression gauge Mileage tester Rpm meter
This installation of tools and machinery of automated workshop
are very sophisticated. Everyday there are 15 to 20 vehicle for servicing
purpose in the workshop of SHANTHI TVS .
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For the convenience of the satisfaction of cutomers , separate
waiting room has been constructed with various facilities like news
paper , journals , magazines , TV etc .
The unit has separate spare parts counter , where in all spare and
equipment are genuine and indirectly supplied by the TVS COMPANY.
The unit has spare parts of all ranges bike of TVS.
SHANTHI TVS
Deals with following TVS Company Motor Cycle
TVS Apache (150 cc, 13.7 Ps @8500rpm)
TVS Apache RTR 160
TVS Apache RTR 160 EFI (Electronic Fuel Injection)
TVS Apache RTR 180 (17.3ps)
TVS Centra
TVS Fiero F2TVS Scooty Pep (90 cc) (3rd largest used scooter in India)
TVS Star
TVS Star City
TVS Star Sport
TVS Victor (110 cc)
TVS Victor EDGE (125 cc)TVS Flame (125 cc,ccvti technology)
TVS Scooty
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INVESTMENTS OF SHANTHI TVS
The following were the investments made by Mr.Dhamodar V.
Shanbagh the proprietor of SHANTHI TVS for establishment of this
motorcycle giant in Shimoga:
Particulars Amount (in Rs.)
Land Purchased 15,00,000
Vehicles(Initial Investment) 5,00,000
Spare Parts(Initial Investment) 2,00,000
Furniture & Fittings 1,50,000
Automated Workshop 2,00,000
TOTAL 25,50,000
ORGANISTIONAL BEHAVIOUR
In firm size , it is humanly impossible for an individual to do
justice to the multitudes and the complex demand of the managing and
operating of the business .since management essentially implies taking
work from other as per the plan . there authority to the work done from
the later as per specific directives . All the management function of
planning , organizing , directing and controlling cannot be perform by an
officer at the top.
In short authority has to deligated as the responsibility diversified
in order achieve optimum results.
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ORGANISTIONAL STRUCTURE
The pattern of network of relationship between the variousposition is in a firm as well as between the person who hold those
position referred to as organizational chart.
As it has been mentioned earlier that it is a sole proprietary
concern, followed by one manager, one workshop in charge, one
supervisor, one spare part in charge, one receptionist.
Under the workshop in charge there are two skilled mechanics
and two mechanics cum electricians and under each of them there are
two helpers.
The top down chart of the SHANTHI TVS, the major function at
the top which subordinates function is successive lower position.
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SERVICES OFFERED BY SHOWROOM
SHANTHI TVS provide quality services to their customers to keep
long lasting customers relationship. The services offered by the
showroom are:
Sales Repairs
Servicing Maintenance of vehicles
The unit undertakes all kinds of sales, repairs, servicing and
maintenance of all TVS motorcycles. As a sub-dealer SHANTHI TVS
provides 2 years warranty after sales services to all TVS motorcycles on
certain terms & conditions. It offers FIVE free services for new vehicles,regular services after free services and general checkups. Everyday
there are at least 15-20 vehicles for servicing.
The free services are offered on all TVS motorcycles on the
following basis:
Free Services Eligibility
First Service 500-750 kms or 1month from the
date of purchase
Second Service 2500 -3000kms or 3 month from
the date of purchase
Third Service 5500-6000kms or 6 month from
the date of purchase
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Fourth Service 7000-7500 kms or 9 month from
the date of purchase
Fifth Service 11500-12000kms or 12 monthfrom the date of purchase
COMPETITORS
As the business grows the competition also increases. So the firm
to be successful must prove greater customer value and satisfaction
than its competitors. So the firm should carry out continuous innovative
marketing strategy to hold the market. The main competitors of
SHANTHI TVS are:
Hero Honda Motors (Hero Honda). OM Ganesh Auto (Yamaha-Escorts). Amar Sales & Services (Kinetic Engg Ltd.). Supmer motors ( Bajaj)
SALES PROMOTION
Sales promotion tool are used by most firm including
manufacturers, distrubuters, retailers and trade association. They are
targeted towards final buyers. It is a short term incentives to encourage
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purchase or sale of a product, where advertising offers reason to buy a
product , sales promotion offers reason to buy now .
Promotion plays an important role in the total performance mix.
Mahamaya Motors undertakes various promotional activities. Such as:
Exchange offers by arranging exchange melas
Monsoon Mela Mega service camp
Finance facilities Test drive Free service camps Keeping customer data base Calling for free service to the customers Follow-up customers complaint
Diwali Dhamaka offers Free gifts with bikes (mobiles, electronic items).
OBJECTIVES
The main objective of the study is finding the popularity of TVS co in
Shimoga and also the titled itself indicates the Consumer behaviour
towards TVS Apache in Shimoga and to see why the customer preferring
TVS Apache at the alternatives of Hero HondasCBZ Xtreme and Bajajs
Pulsar .
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The main sub objectives of the study are outlined below:
To study the market share of TVS motors
To study the customers biking preference To study the customers want and demand To make necessary suggestion on the basis of study conducted
CUSTOMER SATISFACTION:
Satisfaction is a persons feelings of pleasure or disappointment
resulting from comparing a products perceived performance (oroutcome) in relation to his or her expectations. Whether the buyer is
satisfied after purchase depends on the offers performance in relation
to the buyers expectations. If the performance falls short of the
expectations, the customer is dissatisfied. If the performance matches
the expectations, the customer is satisfied. If the performance exceeds
expectations the customer is highly satisfied or delighted.
A company would be wise to measure customer satisfaction
regularly because one key to customer retention is customer
satisfaction. A highly satisfied customer generally stays loyal longer,
buys more as the company introduces new products and upgrades
existing products, talks favorably about the company and its products,pays less attention to competing brands and is less sensitive to price,
offers product or service ideas to the company, and costs less to serve
than new customers because transactions are routine.
When customers rate their satisfaction with an element of the
companys performance - say, delivery. It could mean early delivery, on-time delivery, order completeness, and so on. The company must also
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realize that two customers can report being highly satisfied for
different reasons. One may be easily satisfied most of the time and the
other might be hard to please but was pleased on this occasion.
A number of methods exist to measure customer satisfaction.
Periodic surveys can track customer satisfaction directly. Respondents
can also be asked additional questions to measure repurchase intention
and the likelihood or willingness to recommend the company and brand
to others. Companies that do achieve high customer satisfaction ratingsmake sure their target market knows it. For customer centered
companies, customer satisfaction is both a goal and a marketing tool.
Although the customer-centered firm seeks to create high customer
satisfaction, that is not its ultimate goal. If the company increases
customer satisfaction by lowering its price or increasing its services, the
result may be lower profits. The company might be able to increase itsprofitability by means other than increased satisfaction (for example, by
improving manufacturing processes or investing more on R&D). Also,
the company has many stakeholders, including employees, dealers,
suppliers and stock holders. Spending more to increase customer
satisfaction might divert funds from increasing the satisfaction of other
partners. Ultimately, the company must operate on the philosophy
that it is trying to deliver a high level of customer satisfaction subject to
delivering acceptable levels of satisfaction to the other stakeholders,
given its total resources.
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Survey research:
Survey research is the systematic gathering of information from
respondents for the purpose of understanding and/or predicting some
aspects of the behavior of the population of interest. It is the most
common method of collecting primary data for marketing decisions.
Survey can provide data on attitudes, feelings, beliefs, past and intended
behavior, knowledge, ownership, personal characteristics and other
descriptive items. Survey research is concerned with administration of
questionnaires (interviewing). The survey research must be concerned
with sampling, questionnaire design, questionnaire administration and
data analysis. The administration of questionnaire to an individual or
group of individuals is called an interview.
A questionnaire is simply a formalized set of questions for elicitinginformation. As such, its function is measurement and it represents the
most common form of measurement in marketing research.
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METHADOLOGY
The report has been prepared as per the information obtained
from two sources. They are:
Primary data Secondary data
Primary data:
The primary data included the information collected from the
Proprietor, manager and employees of Shanthi TVS.
Structured questionnaire Personal interview with customers
Secondary data:
Secondary data includes
Data from various magazines esp. bike magazines.
Internet
Brochures
Books
Newspapers etc
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Definition of Population:
The population was defined as Bajaj motorcycles owners of 18
years of age and older (element) at showroom and market (unit) inShimoga (extent) during the month of December 07-March 10 (time).
Sampling Plan:
Data collected has been analyzed and interpreted by using simple
percentage method and finally the data is presented in graphs and
charts.
Sampling Frame :
Customers visit