TVS Motor Company

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TVS Motor Company Limited
Public
Traded as BSE: 532343, NSE: TVSMOTOR
Industry Automotive
Predecessor India Motor Cycles Limited
Founded 1979
Founder T. V. Sundaram Iyengar
Headquarters Chennai, India
Number of locations
 3 two wheeler and 1 three wheeler plants
Key people
 Venu Srinivasan
(Chairman & MD)
Products Motorcycles, scooters, three-wheeler vehicles and spare parts
Revenue ₹77.35 billion (US$1.1 billion) (2014) [1]
Profit ₹2.54 billion (US$38 million) (2014) [1]
Total assets ₹10.48 billion (US$160 million) (2014) [1]
Parent Sundaram - Clayton Limited
Website www.tvsmotor.com

TVS Motor Company is the third largest two-wheeler manufacturer in India and one among the top ten in the world, with annual revenue of more than Rs.10,098 Cr in 2014-15 (around USD 1.6 billion), and is the flagship company of the, USD 7.29 billion in 2013-14, TVS Group. The company has an annual sales of 2.5 million units a year. TVS Motor Company is also the 2nd largest exporter in India with exports to over 60 Countries

TVS Motor Company Ltd (TVS Motor), member of the TVS group, is the largest company of the group in terms of size and turnover with more than 2.8 crore customers riding a TVS bike. Mr.Venu Srinivasan, the Chairman of TVS Motor Company has led by example, winning many laurels including the prestigious “Padma Shri” award. “Order of Diplomatic Service Merit" medal from Korean President, The JRD Tata Corporate, The Star of Asia award by Business Week, The Jamsheji TATA Lifetime Quality Achievement Award and Emerging Corporate Giant - Times & Harvard Business School Association are other high-profile awards bestowed on him, on behalf of the company. He was also awarded the coveted Ishikawa-Kano Award presented by Asian Network for Quality. Among the latest honours conferred on him was an honorary doctor of science degree by Purdue University, USA.

History

TVS was established by T. V. Sundaram Iyengar.Sundram Iyengar was born in 1877 in Thirukkurungudi in the Tirunelveli district of Madras Presidency, British India. He began with Madurai's first bus service in 1911 and founded T.V.Sundaram Iyengar and Sons Limited, a company that consolidated its presence in the transportation business with a large fleet of trucks and buses under the name of Southern Roadways Limited.[2] When he died in 1955 his sons took the company ahead with several forays in the automobile sector, including finance, insurance, manufacture of two-wheelers, tyres and components. The group has managed to run 33 companies that account for a combined turnover of nearly $3 billion.

Early years

Sundaram Clayton, then the flagship company, was founded in 1962 in collaboration with Clayton Dewandre Holdings, United Kingdom. It manufactured brakes, exhausts, compressors and various other automotive parts. The company set up a plant at Hosur in 1978 to manufacture mopeds as part of a new division.[3] A technical collaboration with the Japanese auto giant resulted in the joint-venture Ind Suzuki Limited in 1982 between Sundaram Clayton Ltd and Suzuki Motor Corporation. Commercial production of motorcycles began in 1984.

Suzuki relationship

TVS and Suzuki shared a 19-year-long relationship that was aimed at technology transfer to enable design and manufacture of two-wheelers specifically for the Indian market. Rechristened TVS-Suzuki, the company brought out several models such as the Suzuki Samurai, Suzuki Shogun and Suzuki Fiero. Differences in opinion on how to run the join venture eventually led to the partners going their separate ways in 2001 with the company being renamed TVS Motor, relinquishing rights to use the Suzuki name. There was also a 30-month moratorium period during which Suzuki promised not to enter the Indian market with competing two-wheelers.[4] The company also got over a period of labour unrest that required Chairman Venu Srinivasan to take tough measures to resurrect a company that was in a state of turmoil. He would go on to invest in new technology, nurture in-house design, and implement Toyota-style quality programs.[5]

Recent
TVS also competes in the auto rickshaw segment

TVS has launched the new Phoenix 125 and an updated version of TVS Wego in 2015. The all new TVS Scooty Zest 110 was launched in late 2014. TVS has recently won 3 top awards at JD.Power Asia Pacific India Automotive awards 2015. 2 wheeler Manufacturer of the year at NDTV Car & Bike

In early 2015, TVS Racing became the 1st Indian factory team to take part in the prestigious Dakar rally, which is the longest and most dangerous rally in the world. TVS Racing partnered with French motorcycle manufacturer Sherco for the Dakar rally, and the team named Sherco TVS Rally factory team finished 25th overall at the Rally. TVS Racing also won the Raid de Himalaya and the FOX Hill Super Cross held at Sri Lanka.

Characteristics of TVS Motor

The company was first two-wheeler manufacturer to win the coveted Deming Award in 2002. It was the first Indian company to deploy a catalytic converter in a 100 cc motorcycle and the first to indigenously produce a four stroke 150cc motorcycle. In 2006, the company’s TVS Apache became the first Indian motorcycle to consecutively win six prestigious awards in a row. In 2007, TVS became the first Indian automobile manufacturer to roll out as many as seven new products on a single day, a testimony to its manufacturing process. In 2012, TVS Motor Company was declared as ‘India’s most trusted Two Wheeler Brand’ by the Brand Equity Most Trusted Brand Survey, 2012 and in 2014 TVS Jupiter became the most awarded scooter in India, winning six ‘Scooter of the Year’ awards from leading publication houses in the country.

TVS Motor Company tries to engineer vehicles as per consumers requirement, which has enabled it to introduce the wide product range that caters an array of segments of the two and three wheeler industry in India. It tries to achieve total customer satisfaction in quality by company’s management philosophy of TQM (Total Quality Management).

A Vehicle for Everyone

TVS Motor currently manufactures a wide range of two-wheelers including: Motorcycles (Apache RTR Series, Phoenix 125, Star City Series, Max4R), Scooters (Jupiter, Wego, Scooty Zest 110, Scooty Streak, Scooty Pep+), Mopeds (TVS XL Super, TVS XL Heavy Duty)

Manufacturing Capability

TVS rolls out 2.5 Mn vehicles every year. The company has four manufacturing plants, three located in India (Hosur, Tamil Nadu and Mysore, Karnataka and Nalagarh, Himachal Pradesh) and one in Indonesia (Karawang).

Distribution

Today TVS Motor functions through a nationwide network of more than 3500 touch points including dealers, authorised service centres and other certified points across all the states in India.

Innovation

TVS Motor designs and develops of new products. The company has many firsts to its credit including the fact that it launched seven vehicles on the same day.

Inspiring Millions of Smiles campaign

TVS tries to launch innovative, easy-to-handle, and environment-friendly products, backed by reliable customer service.

Awards

TVS Motor Company was named the most awarder 2 wheeler manufacturer by the NDTV Car and Bike Awards, and Number 1 in quality at the J.D.Power Asia Pacific India Automotive awards.

TVS Motor won the Deming Application Prize in 2002[citation needed]

The same year, the work done for the TVS Victor motorcycle won TVS Motor the National Award for successful commercialization of indigenous technology from the Technology Development Board, Ministry of Science & Technology, Government of India.[6] In 2004, TVS Scooty Pep won the 'Outstanding Design Excellence Award' from BusinessWorld magazine and the National Institute of Design, Ahmedabad.[7] The effective implementation of Total Productivity Maintenance practices won TVS Motor the TPM Excellence Award given by the Japan Institute of Plant Maintenance in 2008.

TVS Motor has won several management awards, notable among them being the Emerging Corporate Giant in the Private Sector awarded by The Economic Times and the Harvard Business School Association of India. Business Today magazine awarded TVS Motor the Best Managed Company and the Most Investor Friendly Company awards. Its advertising practices won it the Good Advertising award by Auto India Best Brand Awards 2009.[8] Company Chairman Venu Srinivasan is a recipient of several awards for corporate excellence such as the Star of Asia Award by Bloomberg BusinessWeek[5] and the JRD Tata Corporate Leadership Award.[9] The University of Warwick, United Kingdom gave him an honorary Doctorate of Science degree[10] while the Government of India honoured him with the Padma Shri, one of India's highest civilian distinctions.[11]

Innovative implementation of Information Technology has won TVS Motor the Ace Award for Most Innovative NetWeaver Implementation in 2007 awarded by technology major SAP AG[12] and the Team Tech 2007 Award of Excellence for Integrated use of Computer-aided engineering Technologies.[13]

References

  1. ↑ 1.0 1.1 1.2 http://www.bseindia.com/bseplus/AnnualReport/532343/5323430313.pdf
  2. ↑ When he died in 1955 his sons took the company ahead with several forays in the automobile sector, including finance, insurance,two-wheelers/ three wheelers, tyres and components,Housing,Avaiation,Logistics etc.. The group has managed to run 97 companies that account for a combined turnover of nearly $7.29 billion. Lua error in package.lua at line 80: module 'strict' not found.
  3. ↑ A technical collaboration with the Japanese auto giant resulted in the joint-venture Ind Suzuki Limited in 1982 between Sundaram Clayton Ltd and Suzuki Motor Corporation. Commercial production of motorcycles began in 1984. Lua error in package.lua at line 80: module 'strict' not found.
  4. ↑ The company also got over a period of labour unrest that required Chairman Venu Srinivasan to take tough measures to resurrect a company that was in a state of turmoil. He would go on to invest in new technology, nurture in-house design, and implement Toyota-style quality programs. Lua error in package.lua at line 80: module 'strict' not found.
  5. ↑ 5.0 5.1 Lua error in package.lua at line 80: module 'strict' not found.
  6. ↑ Lua error in package.lua at line 80: module 'strict' not found.
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  10. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  11. ↑ Lua error in package.lua at line 80: module 'strict' not found.
  12. ↑ Template:Tvs at Lifehe
  13. ↑ Lua error in package.lua at line 80: module 'strict' not found.

External links

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