Automotive: Statement by TVS Motor on plans to increase insurance premiums for two-wheelers

The TVS Motor automotive industry has been hit by a series of headwinds, leading to a steady increase in two-wheeler prices. More details on Dynamite News:

Hotel : The auto industry has been hit by a series of headwinds, leading to a steady increase in two-wheeler prices.

In addition to the woes of the pandemic, the continued shortage of semiconductor chips, the high cost of raw materials and rising fuel prices have impacted demand. As the customer continues to struggle with an increase in the cost of ownership, the recently announced rise of Rs 2,200 per vehicle in the cost of liability insurance will further hamper the industry’s efforts to recover from this difficult market situation. .

Moreover, a strong domestic industry is the basis for global competitiveness and every effort should be made to have a vibrant local market,” – KN Radhakrishnan, Director and CEO, TVS Motor Company.

TVS Motor Company is a globally renowned manufacturer of two and three wheelers, championing progress through sustainable mobility with four state-of-the-art manufacturing plants in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. Rooted in our 100-year heritage of trust, value, and passion for customers and accuracy, we pride ourselves on manufacturing the highest quality, internationally aspirational products through innovative and sustainable processes. We are the only two-wheeler company to have received the prestigious Deming Award.

Our products lead their respective categories in the JD Power IQS and APEAL surveys. We’ve been ranked the #1 company in JD Power’s Customer Service Satisfaction Survey for four consecutive years. Our UK based Norton Motorcycles group company is one of the most emotive motorcycle brands in the world.

Our subsidiaries in the field of personal electric mobility, Swiss E-Mobility Group (SEMG) and EGO Movement, occupy a leading position in the e-bike market in Switzerland.

TVS Motor Company strives to provide the most superior customer experience in the 80 countries in which we operate. (With ANI inputs)

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