TVS forges distribution partnership for Dominican Republic
Mumbai: TVS Motor Co. on Friday said it has got into an exclusive distribution partnership for its two-wheelers with Motoplex S.A.S. of Grupo Bonanza, an automobile business house in the Dominican Republic. Hosur-based TVS is looking to strengthen its presence in the Caribbean region, it said in a statement.
As per the partnership, Motoplex will build and operate 40 TVS dealerships to sell the latter’s two-wheelers in the Dominican Republic. The first dealership under the alliance was inaugurated in capital Santo Domingo on Friday. The company currently sells its WEGO scooter, the TVS Sport bike and a dozen high-performance bikes under the Apache RTR series, in the Dominican Republic.
Motoplex’s large network reach in the region makes it the perfect strategic partner for TVS Motor, said R. Dilip, senior vice-president, international business of TVS, in the statement. “We are confident that our value offerings will find acceptance with the customers,” he added.
For the first six months of this fiscal year, TVS exported 236,740 units of two and three wheelers, second to Bajaj Auto Ltd’s 683,876 units, according to industry lobby Society of Indian Automobile Manufacturers (Siam).
The company has been stepping up its exports in a bid to de-risk its bet in a segment that is dominated by larger rivals, including Hero MotoCorp Ltd and Honda Motorcycle & Scooter India (Pvt.) Ltd.
During the period, the flagship company of the TVS Group outperformed broader two-wheeler exports with a 28.3% growth compared to total two-wheeler exports growth of 15.22% to 1,364,313 units, according to Siam.
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