TVS is investing around ₹3,500 crore this fiscal towards new product development and capacity expansion, including premium motorcycles, electric vehicles and manufacturing capacity
TVS Motor Company has indicated that it will consider price increases in the second quarter to offset rising commodity costs, while continuing to invest in its super premium Norton brand.
Speaking during the company’s earnings call on Tuesday, the company’s Director and Chief Executive Officer KN Radhakrishnan said the sharp increase in steel, aluminium and petroleum-linked input costs during the June quarter, triggered by the West Asia conflict, had put pressure on margins.
“There was a sharp upward trend in commodity prices during Q1. We are closely watching the situation and will appropriately look at opportunities to rightly give price increases,” he said. Cost optimisation and management scale benefits will continue in the second quarter, he added.
₹2,500 crore invested in Norton TVS also reaffirmed its long-term commitment to the super premium motorcycle segment through Norton Motorcycles, saying it has invested about ₹2,500 crore over the past four to five years in reviving and expanding the British brand.
The company is preparing to launch four new Norton motorcycles across global markets, including the UK, Europe, the US and India, he said without giving information on the launch date.
The upco
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