TVS Motor targets growth in Ghana, launches seven products

TVS Motor Co, which is looking to both expand and grow its export footprint, is eyeing faster growth in Africa. Today, the company launched seven products in Ghana comprising five motorcycles and two variants of the TVS King autorickshaw.

These seven TVS products specifically are the 110cc Neo NX, three variants of the HLX series (HLX 125, HLX 150 and HLX 150X) which recently surpassed global sales of three million units, the Apache 180 and the TVS King three-wheeler (Deluxe and Deluxe Plus ISG).

TVS, whose overseas retail footprint includes 80 countries across Africa, Latin and Central America, Southeast Asia, the Middle East and the Indian sub-continent, is looking to improve its exports. In the first 11 months of FY2023, TVS has exported a total of 848,239 two-wheelers, comprising 72,168 scooters (up 35% YoY) and 772,543 motorcycles (down 22% YoY).

On the three-wheeler front, the Chennai-based company has exported 144,781 units, down three percent. TVS, like the other Indian OEMs – export leader Bajaj Auto and Hero MotoCorp – has seen export numbers in key African markets slow down in the recent past due to economic conditions and a high dollar rate. Now, with the market scenario expected to improve, TVS has launched new products in Ghana.  

According to  Rahul Nayak, Vice-President, International Business, TVS Motor Company, “Our diverse and robust product portfolio encompasses Bebeks, motorcycles and three-wheelers, catering to the needs of customers seeking daily and last-mile connectivity in Ghana.”

He went on to add that TVS products are engineered specifically to cater to the demands of the African market while delivering quality and reliability, and with the launch of these new products, they aim to offer customers a hassle-free experience, top-notch aftersales service and affordable genuine spares. 

Dev Bulani, Managing Director of Arash Motors, the TVS Motor Co dealer in Accra, Ghana, said, “We are excited to partner with TVS Motor Company and bring a range of mobility solutions to Ghana that addresses specific requirements of varied customers. TVS Motor’s products are known for the technology, quality, enhanced safety, and aesthetically designed features.”

As per a MordorIntelligence report, the African two-wheeler industry which was valued at US$ 3.65 billion in CY2021, is expected to register a CAGR of nearly 7% between 2022 and 2027. The African two-wheeler market is dominated by five players – Yamaha, Suzuki, Bajaj Auto, TVS Motor Co and Hero MotoCorp.

Demand in the region is driven by the need for daily commuting, rising level of urbanisation and a decline in dependable public transportation. This has led to a marked rise in demand for motorcycle taxis as well as a desire to own affordable two-wheelers. TVS clearly is seeing a fresh new business opportunity in Ghana with the launch of seven products.