TVS bullish on Central America, plans 50 dealerships in Nicaragua and Costa Rica
TVS, which has recorded 91% YoY growth in exports, inks distribution partnership Grupo Q to cater to growing demand for its two-wheelers in Central America.
TVS Motor Company, which is currently recording strong export sales, has announced a new distribution partnership with Active Motors, a subsidiary of Grupo Q, for Nicaragua and Costa Rica to further expand its business in Central America.
Active Motors will support TVS with dedicated sales, service, spares and customer relationship management. It will also facilitate the opening of three flagship outlets and about 50 dealerships in a phase-wise manner across Nicaragua and Costa Rica. TVS already has a retail presence in key Central American markets markets, including Guatemala, El Salvador and Honduras.
The company’s product range in Costa Rica and Nicaragua will include seven motorcycles (Apache RTR 200 4V, Apache RTR 160 4V, Apache RTR 160 2V, Stryker 125, Raider 125, HLX 150 5S, Neo NX) and one scooter (NTorq 125).
Commenting on the new partnership, R Dilip, President - International Business, TVS Motor Company, said, “Central America is an important market for TVS Motor Company. We are delighted to partner with Grupo Q, which has a strong pedigree in the automobile industry in the country. Deep understanding of the market, rich experience in the industry and retail financing capabilities make Grupo Q the best strategic ally for TVSin Nicaragua and Costa Rica. We will continue to offer a wide range of aspirational products with complete service and spare parts support combined with the strength of our network facility to cater to the mobility needs of the region.”
Carlos Enrique Quiros, VP and Commercial Head, Grupo Q said, “We, at Grupo Q, will represent TVS Motor Company with great pride to cater to the length and breadth of fast-evolving customer requirement. We are looking forward to newer opportunities to grow our business in the region with our extensive knowledge and experience of the market."
In the April-October 2021 period, TVS has posted a robust export performance, shipping 642,854 units, which constitutes 92% year-on-year growth (April-October 2020: 334,884). The company is, at present, the No. 2 two-wheeler exporter from India.
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