RESEARCH REPORT

On
“COMPARATIVE STUDY BETWEEN TVS AND
HONDA”
In partial fulfillment for the award of the degree
Of

UNDER THE GUIDANCE BY: SUBMITTED BY:

(SESSION 2018-19)

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 TABLE OF CONTENT

ACKNOWLEDGEMENT 2

DECLARATION 3

PREFACE 4

EXECUTIVE SUMMARY 5

 INTRODUCTION 8

 INDUSTRY PROFILE 16

 COMPANY PROFILE 31

 OBJECTIVES OF THE STUDY 69

 RESEARCH METHODOLOGY 71

 DATA ANALYSIS 76

 FINDINGS 89

 SUGGESTIONS & RECOMMENDATIONS 91

 CONCLUSION 93

 LIMITATIONS 95

 BIBLIOGRAPHY 97

 ANNEXURE 99

o QUESTIONNAIRE 100

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INTRОDUCTIОN

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 INTRODUCTION

The Indian auto industry became the 4th largest in the world with sales increasing 9.5 per cent

year-on-year to 4.02 million units (excluding two wheelers) in 2017. It was the 7th largest

manufacturer of commercial vehicles in 2017.

The Two Wheelers segment dominates the market in terms of volume owing to a growing middle

class and a young population. Moreover, the growing interest of the companies in exploring the

rural markets further aided the growth of the sector.

India is also a prominent auto exporter and has strong export growth expectations for the near

future. Automobile exports grew 15.54 per cent during April 2018-February 2019. It is expected

to grow at a CAGR of 3.05 per cent during 2016-2026. In addition, several initiatives by the

Government of India and the major automobile players in the Indian market are expected to

make India a leader in the two-wheeler and four wheeler market in the world by 2020.

The automobile industry in India is world’s fourth largest, with the country currently being the

world's 4th largest manufacturer of cars and 7th largest manufacturer of commercial vehicles in

2017. Indian automotive industry (including component manufacturing) is expected to reach Rs

16.16-18.18 trillion (US$ 251.4-282.8 billion) by 2026. Two-wheelers dominate the industry and

made up 81 per cent share in the domestic automobile sales in FY18. Overall, Domestic

automobiles sales increased at 7.01 per cent CAGR between FY13-18 with 24.97 million

vehicles being sold in FY18. Indian automobile industry has received Foreign Direct Investment

(FDI) worth US$ 20.85 billion between April 2000 and December 2018.

Domestic automobile production increased at 7.08 per cent CAGR between FY13-18 with 29.07

million vehicles manufactured in the country in FY18. During April 2018-January 2019,

automobile production increased 9.84 per cent year-on-year to reach 26.26 million units.

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During April 2018-January 2019, highest year-on-year growth in domestic sales among all the

categories was recorded in commercial vehicles at 22.79 per cent followed by 14.79 per cent

year-on-year growth in the sales of three-wheelers.

The passenger vehicle sales in India crossed the 3.2 million units in FY18, and is further

expected increase to 10 million units by FY20.

The government aims to develop India as a global manufacturing as well as a research and

development (R&D) hub. It has set up National Automotive Testing and R&D Infrastructure

Project (NATRiP) centres as well as a National Automotive Board to act as facilitator between

the government and the industry. Under (NATRIP), five testing and research centres have been

established in the country since 2015.

The Indian government has also set up an ambitious target of having only electric vehicles being

sold in the country. Indian auto industry is expected to see 8-12 per cent increase in its hiring

during FY19. The Ministry of Heavy Industries, Government of India has shortlisted 11 cities in

the country for introduction of electric vehicles (EVs) in their public transport systems under the

FAME (Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles in India) scheme.

The first phase of the scheme has been extended to March 2019 while In February 2019, the

Government of India approved the FAME-II scheme with a fund requirement of Rs 10,000 crore

(US$ 1.39 billion) for FY20-22. Number of vehicles supported under FAME scheme has

increased to 192,451 units in March 2018 from 5,197 units in June 2015.

Automobile exports grew 15.54 per cent during April 2018-February 2019. It is expected to grow

at a CAGR of 3.05 per cent during 2016-2026. Domestic two wheeler industry is expected to

grow at 8-10 per cent during FY19. Also, Luxury car market in India is expected to grow at a 25

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per cent CAGR till 2020. The Government of India expects automobile sector to attract US$ 8-

10 billion in local and foreign investments by 2023.

MARKET SIZE

Domestic automobile

production increased

at 7.08 per cent

CAGR between

FY13-18 with 29.07

million vehicles

manufactured in the

country in FY18.

During April 2018-

January 2019,

automobile production increased 9.84 per cent year-on-year to reach 26.26 million vehicle units.

Overall domestic automobiles sales increased at 7.01 per cent CAGR between FY13-18 with

24.97 million vehicles getting sold in FY18. During April 2018-January 2019, highest year-on-

year growth in domestic sales among all the categories was recorded in commercial vehicles at

22.79 per cent followed by 14.79 per cent year-on-year growth in the sales of three-wheelers.

Premium motorbike sales in India crossed one million units in FY18. During January-September

2018, BMW registered a growth of 11 per cent year-on-year in its sales in India at 7,915 units.

Mercedes Benz ranked first in sales satisfaction in the luxury vehicles segment according to J D

Power 2018 India sales satisfaction index (luxury).

Sales of electric two-wheelers are estimated to have crossed 55,000 vehicles in 2017-18.

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INVESTMENTS

In order to keep up with the growing demand, several auto makers have started investing heavily

in various segments of the industry during the last few months. The industry has attracted

Foreign Direct Investment (FDI) worth US$ 20.85 billion during the period April 2000 to

December 2018, according to data released by Department of Industrial Policy and Promotion

(DIPP).

Some of the recent/planned investments and developments in the automobile sector in India are

as follows:

 Ashok Leyland has planned a capital expenditure of Rs 1,000 crore (US$ 155.20 million)

to launch 20-25 new models across various commercial vehicle categories in 2018-19.

 Hyundai is planning to invest US$ 1 billion in India by 2020. SAIC Motor has also

announced to invest US$ 310 million in India.

 Mercedes Benz has increased the manufacturing capacity of its Chakan Plant to 20,000

units per year, highest for any luxury car manufacturing in India.

 As of October 2018, Honda Motors Company is planning to set up its third factory in

India for launching hybrid and electric vehicles with the cost of Rs 9,200 crore (US$ 1.31

billion), its largest investment in India so far.

 In November 2018, Mahindra Electric Mobility opened its electric technology

manufacturing hub in Bangalore with an investment of Rs 100 crore (US$ 14.25 million)

which will increase its annual manufacturing capacity to 25,000 units.

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GOVERNMENT INITIATIVES

The Government of India encourages foreign investment in the automobile sector and allows 100

per cent FDI under the automatic route.

Some of the recent initiatives taken by the Government of India are -

 The government aims to develop India as a global manufacturing centre and an R&D

hub.

 Under NATRiP, the Government of India is planning to set up R&D centres at a total cost

of US$ 388.5 million to enable the industry to be on par with global standards

 The Ministry of Heavy Industries, Government of India has shortlisted 11 cities in the

country for introduction of electric vehicles (EVs) in their public transport systems under

the FAME (Faster Adoption and Manufacturing of (Hybrid) and Electric Vehicles in

India) scheme. The government will also set up incubation centre for start-ups working in

electric vehicles space.

 In February 2019, the Government of India approved the FAME-II scheme with a fund

requirement of Rs 10,000 crore (US$ 1.39 billion) for FY20-22.

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ACHIEVEMENTS

Following are the achievements of the government in the past four years:

 Number of vehicles supported under FAME scheme increased from 5,197 in June 2015 to

192,451 in March 2018. During 2017-18, 47,912 two-wheelers, 2,202 three-wheelers,

185 four-wheelers and 10 light commercial vehicles were supported under FAME

scheme.

 Under National Automotive Testing And R&D Infrastructure Project (NATRIP),

following testing and research centres have been established in the country since 2015

o International Centre for Automotive Technology (ICAT), Manesar

o National Institute for Automotive Inspection, Maintenance & Training (NIAIMT),

Silchar

o National Automotive Testing Tracks (NATRAX), Indore

o Automotive Research Association of India (ARAI), Pune

o Global Automotive Research Centre (GARC), Chennai

 SAMARTH Udyog – Industry 4.0 centres: ‘Demo cum experience’ centres are being set

up in the country for promoting smart and advanced manufacturing helping SMEs to

implement Industry 4.0 (automation and data exchange in manufacturing technology).

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ROAD AHEAD

The automobile industry is supported by various factors such as availability of skilled labour at

low cost, robust R&D centres and low cost steel production. The industry also provides great

opportunities for investment and direct and indirect employment to skilled and unskilled labour.

Indian automotive industry (including component manufacturing) is expected to reach Rs 16.16-

18.18 trillion (US$ 251.4-282.8 billion) by 2026. Two-wheelers are expected to grow 9 per cent

in 2018.

References: Media Reports, Press Releases, Department of Industrial Policy and Promotion

(DIPP), Automotive Component Manufacturers Association of India (ACMA), Society of Indian

Automobile Manufacturers (SIAM), Union Budget 2015-16, Union Budget 2017-18

Exchange Rate Used: INR 1 = US$ 0.0139 as of FY19

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INDUSTRY PROFILE

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INDIAN TWO WHEELER INDUSTRY

India is among the few nations on the planet where every second person has a two wheeler. The

two wheeler industry grew by almost 13%, and that figure is on the rise ever since. Bike owners

have also understood the importance of purchasing a suitable two wheeler insurance policy for

their vehicles. Following is a list of the best performing two wheeler companies in the country:

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Apex industry body, the Society of Indian Automobile Manufacturers (SIAM), has

confirmed Autocar Professional's sales analysis of the two-wheeler industry's domestic

sales. Final sales numbers for FY2018 are: 20,192,672 units, which marks the first time that

the industry has surpassed the 20-million sales milestone.

The just-ended FY2018 is turning out to a fiscal year full of new milestones. While Maruti

Suzuki India and Hero MotoCorp have notched their very own highs in the domestic

market, the Indian two-wheeler industry, which comprises 12 OEMs who reveal their

monthly sales to apex body SIAM, has crossed the 20-million unit sales milestone for the

first time.

As per industry statistics compiled by Autocar Professional, cumulative sales data of the top six

OEMs which have announced their domestic market numbers for fiscal year 2017-18 stacks up

to 20,006,406 units (see sales table below), which is a robust 15.98 percent year-on-year growth.

The Big Four – Hero MotoCorp, HMSI, TVS Motor Co and Bajaj Auto – along with Royal

Enfield and Suzuki Motorcycle India.

Surpassing the 20-million mark also means that the Indian two-wheeler industry is poised to post

double-digit growth after six years. The last time was in FY2012 when it grew 12.25 percent

with sales of 13,435,769 units. What’s more, the 20-million sales mark has been breached by

cumulative numbers of only six OEMs. The remaining six have yet to reveal their fiscal

performance, which means the big number for FY2018 will get bigger.

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This achievement comes as a result of the top players notching their best-ever sales in a fiscal,

starting with market leader Hero MotoCorp. The world’s largest two-wheeler manufacturer has

stuck true to its title with humongous sales of 7,587,130 units or 37.92 percent of the record

20,006,406 units sold by the six OEMs under review. This is a world record for any two-wheeler

maker and constitutes sale of 20,786 units sold on each day in FY2018. This also means every 20

seconds a Hero product was sold somewhere in the country. It is also the company’s best

performance ever since its incorporation as Hero Honda Motors in 1984.

Commenting on the company’s performance, Pawan Munjal, CMD, Hero MotoCorp, said:

“2017-18 has been a period of high growth where Hero MotoCorp achieved significant

milestones, and set new benchmarks in the two-wheeler industry. Achieving the landmark 7

million annual sales milestone in both the calendar year 2017 and fiscal year 2017-18 is a clear

indication that Hero continues to be the preferred choice of customers across markets. Our

overall global sales growth has given further impetus to our global expansion plans. We are

determined and focused on bringing technologically-advanced products for our customers across

the globe, building our production capacities and expanding our customer touch points.”

Hero recently laid the foundation stone of its eighth manufacturing site at Chittoor (Andhra

Pradesh). The last fiscal also witnessed Hero MotoCorp start operations at its Bangladesh-based

assembly unit (in May 2017).

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FY2017-18 highlights a critical change in Hero MotoCorp’s direction, revealed through new

product unveils and strategy. In H2 FY2018, it unveiled premium products such as the 200cc

XPulse and Xtreme 200R motorcycles and the 125cc Maestro Edge 125 and Duet 125 scooters.

To drive sales at the entry level, the company has recently infused new, updated models to its

commuter motorcycle portfolio strengthening the Passion and Splendor brands in the form of the

110cc Passion Pro, Passion XPro and the 125cc Super Splendor.

Honda is biggest volume gainer in FY2018

Meanwhile, Honda Motorcycle & Scooter India (HMSI) stands out as the biggest volume

gainer, surpassing Hero MotoCorp. HMSI has added new volumes of more than one million

units in the 12-month period of FY2017-18, a commendable sales record. In FY2018, the

company sold 57,75,243 units, thereby registering, according to HMSI, a new world record of

adding new sales of over a million units in a single fiscal – additional volumes of 1,050,176 units

over its FY2016-17 sales of 4,725,067 units.

According to Yadvinder Singh Guleria, senior VP (Sales and Marketing), “Honda 2Wheelers

India is the only two-wheeler company in the world to grow at a pace witnessed never before,

adding over 1 million incremental customers in a single year. With four brand-new models, new

capacity infusion, addition of 500 new network outlets increasing our reach to hinterlands,

Honda successfully consolidated its leadership further in scooter segment while aggressively

gaining new motorcycle customers.”

Honda’s growth comes on the back of the ever-growing popularity of its iconic Activa scooters,

its class-leading 125cc CB Shine models and the new-found traction in the premium 160cc

commuter motorcycle segment via CB Hornet 160R and CB Unicorn 160. And in an effort to

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further boost its presence in the growing 160cc motorcycle segment, it recently rolled out the

stylish X-Blade, which borrows the engine from other 160cc siblings.

The company is also recording good traction in the premium 125cc scooter segment with the

Grazia riding into the popular charts within a month of its domestic launch. Autocar

Professional estimates the Grazia scooter is garnering additional volumes of 20,000-25,000 units

every month. This appears to be a good sign for the company as rivals like Hero MotoCorp, TVS

and Suzuki are eye the surging 125cc scooter segment.

It is noteworthy to mention that Honda has gone a step further by introducing the 2018 edition of

its 250cc CBR 250R and the 160cc CB Hornet 160R with much-desired safety feature of the

anti-lock braking system (ABS). Other new additions to its vast portfolio includes the 2018

edition of the 125cc CB Shine and the 110cc Livo and Dream Yuga models aimed at boosting

sales at the entry level.

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TVS notches record sales, Jupiter shines brighter

India’s third largest two-wheeler company, TVS Motor Co, sold 3,367,000 units in FY2018, up

17.81 percent (FY2017: 2,858,000). Credit for this strong performance goes to the 110cc Jupiter

scooter, which is leading from the front along with the iconic moped (TVS Super XL) as the

bestselling two-wheeler models from the Chennai-based manufacturer.

The company is working hard to push its presence in the premium segments, amply seen in its

new product launches. It has added three new models under its premium motorcycle Apache

brand including the 310cc Apache 310 RR as its flagship model in December, followed by the

updated RTR 200 4V version 2.0 in January and the RTR 160 4V in March. On the scooter front,

TVS has forayed into the 125cc segment with its NTorq 125, which offers a host of unique

features.

The company has high hopes from the entry-level Apache model – the RTR 160 4V – which is

understood to be the bestselling motorcycle under the Apache brand.

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Bajaj Auto feels the heat in India, but is a king in exports

Bajaj Auto, India’s fourth largest two-wheeler player, missed the two-million unit sales mark by

a whisker, selling 1,974,577 units in FY2017-18, a marginal decline of 1.34 percent YoY. The

company recently rolled out the 2018 edition of its popular range including the Pulsar, Avenger

and has also launched new models under its Discover umbrella to boost sales.

At the premium end, while its 375cc Dominar model has failed to garner a good response from

the domestic market, the KTM range appears to be in consistent demand among the select

customer profiles looking for premium street and sport bikes. It remains to be seen how Bajaj

Auto responds to the changing dynamics of the motorcycle market and defines the future

roadmap of its bestselling range – the Pulsar umbrella.

Bajaj Auto though is the No. 1 export player. Its shipments grew substantially by 14 percent to

1,394,757 units in FY2018 (FY2017: 1,218,541). As a result, the gap between domestic sales and

exports has reduced substantially from 782,850 units in FY2017 to 579,820 units in FY2018.

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Royal Enfield guns for sales, implements expansion plans

Continuing with its month-on-month growth, Royal Enfield reported sales of 74,209 units in

March 2018. This marks a YoY growth of 26.75 percent for the iconic motorcycle brand which

once barely sold 10,000 units in a year.

On the cumulative sales front, it has delivered 801,230 units in FY2018, growing by an

impressive 23.06 percent YoY. The company’s growing yearly sales appear to be perfectly

aligned with its capacity expansion program. Almost at par with its growing sales, the company

had plans to scale up its production capacities to 825,000 units by end-FY2017-18. It has now

announced fresh investments of Rs 800 crore as capex for FY2019. This, according to the

company, will include the expansion of production capacity under phase II at its Vallam Vadagal

facility in Tamil Nadu, augmenting total capacity to 950,000 units.

Speaking on the company’s investment plans, Siddhartha Lal, MD & CEO, Eicher Motors said,

“Our demand continues to exceed supply, and we continue to see strong growth from all our

markets. Therefore, we have decided to expand our production capacity with the second phase of

our Vallam Vadagal plant near Chennai, Tamil Nadu. We will also complete construction of our

Technology Centre in Chennai this year, and invest further in the development of new products

to meet upcoming regulations and to expand our portfolio for our global markets.”

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Suzuki Motorcycles India: the dark horse

Completing its annual target of selling 500,000 units during FY2018, Suzuki Motorcycle

India sold a total of 501,226 units, up 43 percent YoY, which is a result of robust consumer

demand for its bestselling model – the Access 125 scooter. Meanwhile, the Gixxer series (all

powered by the 155cc engine) has given a strong foothold to the company in the premium

commuter motorcycle category. The company has reiterated its focus of continuing to work

towards bringing more premium products to the domestic market in near future too.

Commenting on the record sales performance, Sajeev Rajasekharan, EVP, SMIL said, “We have

taken the first step successfully towards our objective of achieving 1,000,000 unit sales in FY

2019-20. The onus is now on us to sustain the momentum generated by this growth and continue

to scale higher peaks. We have a well-rounded and an exciting portfolio of premium scooters and

motorcycles including the upcoming Burgman Street, and the new Intruder FI, which is already

in the market to complement the successful carburetted variant.”

It is to be noted that while the market will continue to see new model launches and facelifts, all

companies are gearing up for the incoming safety norms (for the existing two-wheeler model

range) and the BS VI emission norms in near future on priority. It would be interesting to see

how the market demand fares during the Q1 FY2018-19 period, which has inherited a good

growth momentum from Q4 FY2017-18.

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 MAJOR INDSUTRY PLAYERS

HERO MOTOCORP

Hero MotoCorp is the biggest manufacturer of two wheelers in the world given the number of

units made per year. The company is also known for its innovative methods, especially after it

made the headlines by manufacturing the planet’s most fuel efficient two wheeler – Splendor

iSmart, which offers a mileage of about 102 kilometres per litre. The company commenced

operations in 1984 as Hero Honda, but soon a merger between Hero Cycles of India and Honda

Motors of Japan ensued, and following the split between both companies in 2010, Hero Cycles

and Honda Motors turned into competitors. Some of the popular two wheelers manufactured by

Hero MotoCorp include Splendor, Glamour, CBZ, Achiever, Karizma, Hunk, Passion and CB

series two wheelers. The company is also famous for designing the Pleasure and Maestro

scooters.

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HONDA MOTORCYCLE AND SCOOTER INDIA

The first name that pops into every individual’s mind when considering the purchase of a two

wheeler is Activa. Honda Motorcycle and Scooter India (HMSI) is India’s second biggest two

wheeler manufacturer as it sells in excess of two lac units of the Activa alone every month.

During the 1980s, Honda dominated the Indian two wheeler industry along with Kinetic

Engineering Limited. Both companies partnered between 1984 and 1998 before Mahindra

Motors’ acquisition of Kinetic. The Honda Active, which has been in production since 2000 in

India, is the country’s best selling two wheeler. HMSI also partnered with Honda MotoCorp until

2010 after which it started to sell its own motorcycles such as Shine, Unicorn, CBR 150R and

250R, Dream Yuga, CB Trigger, etc. The Shine and Unicorn brands of the company are currently

among the best-selling bikes in the country. Although the growth of the company’s sales is

relatively slow, the company seems to be making healthy progress with each passing year.

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BAJAJ AUTO

Bajaj is one of the few successful automobile companies in India that sells not only two

wheelers, but also three and four wheelers. The company was established during the 1930s in

Rajasthan, and has since grown into one of the biggest two wheeler manufacturers in India. Bajaj

had a fairly successful stint between the 1960s and 1990s when majority of vehicles that rules the

streets of India were manufactured by the company. Scooters such as Vespa 150, Priya and Bajaj

Chetak were among the company’s best-selling products. It was only in the 1990s that Bajaj

conceded its place as the market leader following the widespread manufacture of motorcycles.

Despite people preferring motorcycles over scooters, Bajaj stayed in the market by

manufacturing its own set of bikes. At the moment, the company’s portfolio includes some of

India’s most popular and best-selling two wheelers, including Avenger, Pulsar, Platina and

Discover. The company is now preparing to release variants of the Platina and CT100 to improve

its market share in the 100cc segment. The company also manufactures other popular bikes such

as Kawasaki Ninja and KTM Duke.

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INDIA YAMAHA MOTOR

A segment of Yamaha Motor Company of Japan, India Yamaha Motor holds 4% of country’s

motorcycle market, and about 7.5% of the nation’s scooter market. Around 15,000 scooters are

sold every month by India Yamaha Motor. A few of the popular two wheelers manufactured by

the company include the R15, SZ-X, FZ16, Fazer, SS 125, Crux, YBR 110 and YBR 125. India

Yamaha Motor is also renowned for selling racing super bikes such as R1 and YZF R1M. While

the R1 costs around Rs.22 lacs, the YZF-R1M is priced at around Rs.29 lacs.

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TVS MOTOR COMPANY

Having commenced operations in 1877, TVS Motor Company initially plied its trade in sectors

such as automobile, finance and insurance. Since 1955, however, TVS began shifting its focus on

automobile alone. The company gained worldwide recognition during the 1980s when it

collaborated with Suzuki Motors to release two wheelers such as Suzuki Samurai, Suzuki

Shogun and Suzuki Fiero. So far as the scooter market is concerned, TVS’s Scooty brand is

among the best performers over the past two decades. Scooty, as a brand, remains the most

preferred scooter among working women and college girls. Jupiter and Wego are two of the other

scooters manufactured by the company, and they are both doing substantially well in the Indian

market.

Apart from the aforementioned two wheeler manufacturers in the country, the other brands that

seem to be catching up include Mahindra, Harley Davidson, Suzuki, Triumph Motorcycles,

Piaggio and Royal Enfield.

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COMPANY PROFILE

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 TVS MOTOR COMPANY

TVS Motor Company the

flagship company of TVS

Group is the third largest two-

wheeler manufacturer in India.

The company manufactures a wide range of two-wheelers from mopeds to racing inspired

motorcycles. The company also manufactures three-wheelers. The company has an annual

production capacity of 4 million 2 wheelers & 120000 three wheelers. It is one of the leading

two-wheeler and three-wheeler exporters from India distributing to over 60 countries. The

company has manufacturing plants located at Hosur in Tamil Nadu Mysore in Karnataka and

Nalagarh in Himachal Pradesh. It also has one manufacturing unit located at Karawang in

Indonesia.In the year 1979 TVS Group company Sundaram-Clayton Ltd started Moped Division

at Hosur to manufacture TVS 50 mopeds. In the year 1982 the company entered into a technical

know-how and assistance agreement with Suzuki Motor Co Ltd of Japan and in the year 1985

they incorporated a new company Lakshmi Auto Components Pvt Ltd for the manufacture of

critical engines and transmission parts.In the year 1986 the company acquired the assets of the

moped division from Sundaram Clayton Ltd. Also the name of the company was changed from

Indo Suzuki Motorcycles Ltd to TVS Suzuki Ltd. In the year 1992 they launched two modes of

motor cycles namely Samurai and Shogun and in the year 1993 they launched TVS

Scooty.During 1999-2000 TVS Suzuki Ltd was amalgamated with Sundaram Auto Engineers Ltd

an unlisted group company which was incorporated in the year 1992. As per the scheme all the

assets and liabilities of erstwhile TVS Suzuki Ltd together with all obligations and contingent

liabilities were vested in Sundaram Auto Engineers (India) Ltd with effect from April 22 1999.

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This merged entity was later renamed TVS Suzuki Ltd.The TVS group and Suzuki Motor

Corporation parted ways from their 15-year-old joint venture on September 27 2001. The shares

held by the Suzuki Motor Corporation were acquired by Anusha Investments Ltd a wholly

owned subsidiary of Sundaram-Clayton Ltd for Rs 9 crore. Thus the company became a

subsidiary of Sundaram-Clayton Ltd with effect from November 15 2001. Since Suzuki Motor

Corporation ceased to be a shareholder of the company the company cannot use the word

'Suzuki' as the part of their name and hence the name of the company was changed to TVS Motor

Company Ltd. During the year 2002-03 the new stylish TVS Scooty Pep and the upgraded

version of Fiero was launched in the market. In April 1 2003 the subsidiary company namely

Lakshmi Auto Components Ltd acquired the entire paid up capital of Sundaram Auto

Components Ltd. Consequently Sundaram Auto Components Ltd became a subsidiary company

with effect from April 1 2003.In October 2003 the company entered into a scheme of

arrangement with Lakshmi Auto Components Ltd and Sundaram Auto Components Ltd. As per

the scheme all the assets and liabilities of the rubber and plastic businesses of Lakshmi Auto

Components Ltd were transferred to Sundaram Auto Components Ltd on slump sale basis on

April 1 2003 for a consideration of 12.25 crores. The remaining business of Lakshmi Auto

Components Ltd namely engine components division together with their investments in other

bodies corporate was transferred to the company with effect from April 2 2003.During the year

2003-04 the company launched new products such as TVS Centra New Victor GL Fiero F2 & Fx

and Scooty Pep. During the year 2004-05 they launched new products such as TVS Star New

Victor GLX New Victor GX and Scooty Pep 'Splash' series.During the year 2005-06 the

company entered into a joint venture with Columbian party for exploring opportunities in

Columbian market with an equity investment of Rs 5 million. The company incorporated TVS

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Motor Company (Europe) B V in Netherlands as a wholly owned subsidiary of the company with

an investment of Rs 91.63 crore. During the year TVS Motor Singapore Pte Ltd Singapore

became a wholly owned subsidiary of the company with an investment of Rs 30.51 crore. PT

TVS Motor Company Indonesia was incorporated in Indonesia to manufacture motorcycles and

parts with an investment of USD 27.60 million and became subsidiary of the company in view of

it being the subsidiary of TVS Motor Company (Europe) B V which holds 75% of the share

capital. The remaining 25% was held by TVS Motor Singapore Pte Ltd. PT TVS Motor

Company Indonesia has acquired lands in Indonesia for setting up a facility for manufacturing

two wheelers.During the year 2006-07 the company has established a new plant in Himachal

Pradesh with an annual production capacity of 400000 units scalable to 600000 units. PT TVS

Motor Company Indonesia a subsidiary of the company established a manufacturing facility at

Karawang near Jakarta in Indonesia with production capacity of 3 lakh vehicles per annum.

During the year the company launched multiple new products and variants such as StaR City ES

StaR Sport Scooty Teenz and 99 Colors on Scooty PEP. During the year 2007-08 the company

commenced commercial production from its Nalagarh Plant located in Himachal Pradesh. They

commenced their commercial production from their state-of-the art plant located at Karawang in

Indonesia and launched TVS Neo which is exclusively developed for the Indonesian market.

During the year the company launched various new products and variants such as TVS Flame

Apache RTR StaR Sport StaR City 110 cc Scooty TeenZ Electric TVS Tru4 Oil. In March 2008

the company launched their three wheeler TVS King in two variants namely two stroke petrol

and two stroke LPG.The company won the Team Tech 2007 Award of Excellence for Integrated

use of Advanced Computer Aided Engineering Technologies in product development. They also

won the prestigious SAP ACE 2007 Awards for Customer Excellence in the Most Innovative

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Netweaver Category for several SAP implementations that are put in place.In June 2008 the

company entered into a contract manufacturing arrangement with Mahabharat Motors

Manufacturing Pvt Ltd whereby TVS motor cycles will be manufactured at the latter's two-

wheeler manufacturing facility that is located on the outskirts of Kolkata. TVS would help

Mahabharat Motors to set up the factory and provides engineering support to them. The

production would commence from June 2009.During the year 2008-09 the company launched

Scooty Streak a tough and trendy variant of Scooty Pep+ and Apache RTR RD premium segment

motorcycle. Also they launched their three-wheeler TVS King in six states. In June 2009 T V

Sundram Iyengar & Sons Ltd and their subsidiaries acquired the holding of foreign collaborators

Clayton Dewandre Holdings Ltd in Sundaram-Clayton Ltd. Thus Sundaram-Clayton Ltd became

a subsidiary of T V Sundram Iyengar & Sons Ltd. Consequent to this acquisition the company

also became the subsidiary of TVS with effect from June 3 2009.During the year 2009-10 the

company launched TVS JIVE and TVS Wego in the market. They also launched a four stroke

three-wheeler with superior features. They commenced export of TVS Apache to Brazil. Also

they developed a pan India presence in three-wheelers. In December 2009 the company acquired

the entire shareholding of TVS Energy Ltd. Thus TVS Energy became a wholly owned

subsidiary of the company. In June 2010 they acquired the entire paid up capital of TVS Housing

Ltd and thus TVS Housing Ltd became a wholly owned subsidiary of the company.In October

2010 the company won the SAP ACE Award for Consumer Excellence 2010 in 'Best Run Award

in Automotive' category. They also won the Silver EDGE award from Information Week a

leading IT magazine for in house design and development of Data Acquisition System for

improving shop floor productivity. Information Week annually recognize enterprises driving

growth and excellence through IT.In November 2010 the company launched TVS TRU4

34
Premium a semi-synthetic 4T Engine Oil. In February 2011 Indian Bank signed an MoU with the

company for financing three wheelers manufactured by the company. In March 2011 the

company introduced ABS (Anti-lock Braking System) in their premium segment motorcycle

TVS Apache RTR 180 giving the bike formidable stopping power and superior braking control

that compliments its high performance capability.In 2011 the Company has developed an engine

that is 20 per cent more fuel efficient and is usable both in scooters and motorcycles.In 2012 the

company signed a MOU with Central Bank of India to provide attractive financing options for its

three wheeler TVS king across all 4000 branches operating in India. The company is also a

winner of the CII ITC Sustainability Awards 2012 during under review.In 2013 the company won

Silicon India Mentor Graphics Best VLSI / Embedded Design - Automotive Award. The

company and BMW Motorrad Signed a Cooperation Agreement. The Company proposed to set

up assembly line in Uganda.In 2014 the company launched TVS TRU4 Synthetic 10W 30

Engine Oil. The Company launches StaR HLX 125 Motorcycle in Tanzania. The Company also

launched Stylish TVS StaR City+ -Asian Network for Quality Award 2014.In 2015 TVS Motor

Company & Kangra Central Co-operative Bank in Himachal Pradesh sign MOU. The company

has launched the 2015 edition of TVS Phoenix 125 for the drum version and for the disc brake

version. During the year the company has introduced a special edition of its legendary TVS XL

Super' in celebration of crossing the milestone of 1 crore mark in sales. The Company signs

MOU with TN Government for investment of Rs 350 crore. The Company also has launched its

motorcycle 'TVS Sport' with improved mileage and additional features during the year under

review.On 16 March 2016 TVS Motor Company announced that it has entered into a partnership

with Snapdeal to sell its motorcycles and scooters online. Nine two-wheeler products from TVS

Motor Company will be available on Snapdeal. Customers will now be able to select model

35
colour and dealership of their choice on the Snapdeal Motors platform from the comfort of their

homes. Snapdeal Motors platform was launched in November 2015.On 11 May 2017 TVS Motor

Company announced its alliance with MASESA (Mayor Servicios Socieda Anonima) a

Guatemala based company that is a leader in the commercialization of motorcycles and Tuk Tuks

in the Central American region. This alliance is in line with the company's plan to expand and

strengthen its presence in Central Amrica LATAM South East Asia and Middle East. In this

alliance MASESA will develop exclusive TVS Motor Company concessionaires in Guatemala El

Salvador Honduras Nicaragua and Costa Rica.On 28 June 2017 TVS Motor Company announced

its partnership with Abans Auto a leading distributor in Sri Lanka. Through this tie-up TVS King

the 200 cc passenger three-wheeler will be launched in the Sri Lankan market. As a part of the

agreement TVS Motor Company will leverage Abans Auto's network of over 200 showrooms

and appointed dealers in strategic locations around Sri Lanka. Furthermore Abans Finance will

provide finance schemes to the customers of TVS Motor Company at affordable rates.On 26

September 2017 TVS Motor Company announced that its popular scooter brand TVS Jupiter has

clocked sales of 2 million units within 4 years of its launch. On 6 December 2017 TVS Motor

Company announced the launch of TVS Apache RR 310. The motorcycle marks TVS Motor

Company's entry into the super-premium segment both in domestic and international markets.On

5 February 2018 TVS Motor Company announced its foray in the 125cc scooter segment with

the launch of TVS NTORQ 125. Designed for the youth TVS NTORQ 125 has been developed

based on the TVS Racing pedigree and comes with the state-of-the-art CVTi-REVV 3 Valve

engine. The scooter also marks the launch of an exclusive technology platform - TVS

SmartXonnect - making it India's first connected scooter.On 14 March 2018 TVS Motor

Company launched the new 2018 TVS Apache RTR 160 4V. A testimony to the racing legacy of

36
the TVS Apache RTR series the new TVS Apache RTR 160 4V is the most powerful 160cc

motorcycle creating a new benchmark in the segment. On 23 August 2018 TVS Motor Company

launched a new 110cc commuter motorcycle - TVS Radeon. On 10 September 2018 TVS Motor

Company announced that its premium motorcycle brand TVS Apache has crossed a key sales

milestone of 3 million units. On 18 September 2018 TVS Motor Company announced that its

125cc scooter offering TVS NTORQ 125 has crossed the 1 lakh sales mark. On 19 September

2018 TVS Motor Company announced its association with leading distributer in the Mexican

region Torino Motors a subsidiary of Groupo Autofin. In the first year of the association Torino

Motors will work with TVS Motor Company to open 40 exclusive stores in the country for the

distribution of two-wheelers. With over 40 years of experience in the region Torino Motors

specialises in automobile and retail finance.

HISTORY
TVS was established by Thirukkurungudi Sundaram Iyengar. He began with Madurai's first bus

service in 1911 and founded T.V. Sundaram Iyengar and Sons Limited, a company in the

transportation business with a large fleet of trucks and buses under the name of Southern

Roadways Limited. 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, aviation, logistics etc. The group has operated 97 companies that account

for a combined turnover of nearly US$6 billion.

EARLY HISTORY

Sundaram Clayton 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 their new

37
division. In 1980, TVS 50, India's first two-seater moped rolled out of the factory at Hosur in

Tamil Nadu, Southern India. A technical collaboration with the Japanese auto giant Suzuki Ltd.

resulted in the joint-venture between Sundaram Clayton Ltd and Suzuki Motor Corporation, in

1982. Commercial production of motorcycles began in 1984.

SUZUKI RELATIONSHIP

TVS and Suzuki shared a 19-year-long relationship that was aimed at technology transfer for

design and manufacture of two-wheelers specifically for the Indian market. Re-christened TVS-

Suzuki, the company brought out several models such as the Suzuki Supra, Suzuki Samurai,

Suzuki Shogun and Suzuki Shaolin. In 2001, after separating ways with Suzuki, the company

was renamed TVS Motor, relinquishing its 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.

RECENT

Recent Launches include the flagship model TVS Apache RR 310, the TVS Apache RTR 200,

TVS Victor and TVS XL 100. TVS has recently won 4 top awards at J.D. Power Asia Pacific

Awards 2016, 3 top awards at J.D. Power Asia Pacific Awards 2015 & Two-Wheeler

Manufacturer of the Year at NDTV Car & Bike Awards (2014–15)

In early 2015, TVS Racing became the first Indian factory team to take part in the Dakar Rally,

the world's longest and most dangerous rally. TVS Racing partnered with French motorcycle

manufacturer Sherco , and named the team Sherco TVS Rally Factory Team. TVS Racing also

won the Raid de Himalaya and the FOX Hill Super Cross held at Sri Lanka. In three decades of

its racing history, TVS Racing has won over 90% of the races it participates in.

38
In 2016 TVS started manufacturing the BMW G310R, a model co-developed with BMW

Motorrad after their strategic partnership in April 2013. In December 2018, the Hosur plant

where the motorcycle is manufactured rolled out its 50,000th G310R series unit.

On 6 December 2017, TVS launched their most-awaited motorcycle, the Apache RR 310 in an

event at Chennai. The 310cc motorcycle with an engine which was co-developed with BMW

features first ever full fairing on a TVS bike, dual-channel ABS, EFI, KYB suspension kits, etc.

It is expected to rival bikes like KTM RC 390, Kawasaki Ninja 250SL, Bajaj Pulsar and

Dominar and Honda CBR 250R after hitting the market. The Apache RR 310 is designed and

realised entirely in India.

CHARACTERISTICS OF TVS MOTOR

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. The list of firsts from the firm

include: India’s first 2-seater moped – TVS 50, India’s first indigenous scooterette - TVS Scooty,

India’s first Digital Ignition - TVS Champ, India’s first fully indigenous motorcycle - Victor,

First Indian company to launch ABS in a motorcycle - Apache RTR Series, The first scooter with

Body-Balance Technology – TVS Wego,The clutchless motorcycle=Jive, Indonesia’s first dual-

tone exhaust noise technology – Tormax and India's first oil-cooled chamber construct with Ram-

Air assist- TVS Apache RTR 200 4V. And a recent launch - India's first connected scooter TVS

NTORQ which claims to be India's first Bluetooth Connected Scooter with features like Call

Assistance, Navigation etc.

39
AWARDS

 TVS Motor won the prestigious Deming Application Prize in 2002.

 In 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. In 2004, TVS Scooty Pep won the 'Outstanding Design Excellence Award' from

BusinessWorld magazine and the National Institute of Design, Ahmedabad.

 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.

 The company's chairman, Venu Srinivasan, was conferred with an honorary Doctorate of

Science degree by The University of Warwick, United Kingdom in 2004, while the

Government of India honoured him with Padma Shri, one of India's highest civilian

distinctions in 2010.

 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 and the Team Tech 2007 Award of Excellence for Integrated use of

Computer-aided engineering Technologies.

 Himalayan Highs, an initiative launched by TVS Motor Company has been included in

the India Book of Records when Anam Hashim became the first woman on a 110 cc

scooter to complete the trip to Khardung La, the world’s highest motorable stretch

40
 TVS PRODUCTS PROFILE
SCOOTERS

 TVS NTORQ

 TVS JUPITER

 TVS WEGO

41
 ZEST 110

 SCOOTY PEP+

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MOTORSCYCLES

APACHE RR310

APACHE RTR 160 4V

43


APACHE RTR 200 4V ABS R 2.0

APACHE RTR 200 4V R 2.0

44


APACHE RTR 200 FI 4V R 2.0

APACHE RTR 180 ABS

45


APACHE RTR 180

APACHE RTR 160

46


TVS RADEON

TVS VICTOR

47


STAR CITY +

 TVS SPORT

48
MOPED

TVS XL 100

49
 HОNDA

Honda Motorcycle and Scooter India, Private Limited (HMSI) is the wholly owned Indian

subsidiary of Honda Motor Company, Limited, Japan. Founded in 1999, it was the fourth Honda

automotive venture in India, after Kinetic Honda Motor Ltd (1984-1998), Hero Honda (1984-

2011) and Honda Siel Cars India (1995-2012). HMSI was established in 1999 at Manesar,

District Gurgaon, Haryana.

Currently HMSI has four manufacturing locations at Manesar in Haryana, Tapukara in

Rajasthan, Narsapura, Kolar in Karnataka and Vithalpur, NW of Ahmedabad.

Scooter -exclusive plant in Gujarat. Its facility in Narsapura is the largest amongst its four

locations and has a capacity of 6,600 vehicles per day. Honda India sales skyrocketed up to 4.28

million motorcycles and scooters backed by scooterization of India via bestselling scooter Activa

over 350,000 scooter sales in September 2017. Honda scooter Activa sales record expected

3.5million scooters in 2017/18. Honda motorcycle & scooter started independent operation since

2010s after separation from Hero Honda motors J/V since 1984. 6million production capacity

establishment within 7 years record in India, Top world motorcycle market.

50
HISTORY OF THE COMPANY
Throughout his life, Honda's founder, Soichiro Honda had an interest in automobiles. He

worked as a mechanic at the Art Shokai garage, where he tuned cars and entered them in races.

In 1937, with financing from his acquaintance Kato Shichirō, Honda founded Tōkai Seiki

(Eastern Sea Precision Machine Company) to make piston rings working out of the Art Shokai

garage. After initial failures, Tōkai Seiki won a contract to supply piston rings to Toyota, but lost

the contract due to the poor quality of their production After attending engineering school

without graduating, and visiting factories around Japan to better understand Toyota's quality

control processes, by 1941 Honda was able to mass-produce piston rings acceptable to Toyota,

using an automated process that could employ even unskilled wartime laborers. Tōkai Seiki was

placed under control of the Ministry of Commerce and Industry (called the Ministry of

Munitions after 1943) at the start of World War II, and Soichiro Honda was demoted from

president to senior managing director after Toyota took a 40% stake in the company Honda also

aided the war effort by assisting other companies in automating the production of military

aircraft propeller The relationships Honda cultivated with personnel at Toyota, Nakajima Aircraft

Company and the Imperial Japanese Navy would be instrumental in the postwar period A U S B-

29 bomber attack destroyed Tōkai Seiki's Yamashita plant in 1944, and the Itawa plant collapsed

in the 1945 Mikawa earthquake, and Soichiro Honda sold the salvageable remains of the

company to Toyota after the war for ¥450,000, and used the proceeds to found the Honda

Technical Research Institute in October 1946.With a staff of 12 men working in a

16 m2 (170 sq. ft.) shack, they built and sold improvised motorized bicycles, using a supply of

500 two-stroke 50 cc Tohatsu war surplus radio generator engines When the engines ran out,

51
Honda began building their own copy of the Tohatsu engine, and supplying these to customers to

attach their bicycles. This was the Honda A-Type, nicknamed the Bata Bata for the sound the

engine made In 1949, the Honda Technical Research Institute was liquidated for ¥1,000,000, or

about US$5,000 today; these funds were used to incorporate Honda Motor Co., Ltd At about the

same time Honda hired engineer Ki Hachiro Kawashima, and Takeo Fujisawa who provided

indispensable business and marketing expertise to complement Soichiro Honda's technical bent

The close partnership between Soichiro Honda and Fujisawa lasted until they stepped down

together in October 1971. The first complete motorcycle, with both the frame and engine made

by Honda, was the 1949 D-Type, the first Honda to go by the name Dream .Honda Motor

Company grew in a short time to become the world's largest manufacturer of motorcycles by

1964.The first production car from Honda was the S500 sports car, which followed the T360 into

production in October 1963. Its chain-driven rear wheels pointed to Honda's motorcycle origins.

Over the next few decades, Honda worked to expand its product line and expanded operations

and exports to numerous countries around the world. In 1986, Honda introduced the

successful Acura brand to the American market in an attempt to gain ground in the luxury

vehicle market. The year 1991 saw the introduction of the Honda NSX supercar, the first all-

aluminum mono coqui vehicle that incorporated a mid-engine V6 with variable-valve timing.

CEO Tadashi Kume was succeeded by Nobuhiko Kawamoto in 1990. Kawamoto was selected

over Shoichiro Irimajiri, who oversaw the successful establishment of Honda of America

Manufacturing, Inc. in Marysville, Ohio. Both Kawamoto and Irimajiri shared a friendly rivalry

within Honda, and Irimajiri would resign in 1992 due to health issues. Following the death

of Soichiro Honda and the departure of Irimajiri, Honda found itself quickly being outpaced in

product development by other Japanese automakers and was caught off-guard by the truck

52
and sport utility vehicle boom of the 1990s, all which took a toll on the profitability of the

company. Japanese media reported in 1992 and 1993 that Honda was at serious risk of an

unwanted and hostile takeover by Mitsubishi Motors, who at the time was a larger automaker by
.
volume and flush with profits from their successful Pajero and Diamante Kawamoto acted

quickly to change Honda's corporate culture, rushing through market-driven product

development that resulted in recreational vehicles such as the first generation Odyssey and

the CR-V, and a refocusing away from some of the numerous sedans and coupes that were

popular with Honda's engineers but not with the buying public. The most shocking change to

Honda came when Kawamoto ended Honda's successful participation in Formula One after the

1992 season, citing costs in light of the takeover threat from Mitsubishi as well as the desire to

create a more environmentally-friendly company image. Later, 1995 gave rise to the Honda

Aircraft Company with the goal of producing jet aircraft under Honda's name .

Corporate profile and divisions

53
HONDA is headquartered in Minato, Tokyo, Japan. Their shares trade on the Tokyo Stock

Exchange and the New York Stock Exchange, as well as exchanges in Osaka, Nagoya, Sapporo,

Kyoto, Fukuoka, London, Paris and Switzerland. The company has assembly plants around the

globe. These plants are located in China, the United States, Pakistan, Canada, England, Japan,

Belgium, Brazil, México, New Zealand, Malaysia, Indonesia, India, Philippines, Thailand,

Vietnam, Turkey, Taiwan, Peru and Argentina. As of July 2010, 89 percent of Honda and Acura

vehicles sold in the United States were built in North American plants, up from 82.2 percent a

year earlier. This shields profits from the yen's advance to a 15-year high against the dollar.

Motorcycles

Honda is the largest motorcycle manufacturer in Japan and has been since it started production in

1955. At its peak in 1982, Honda manufactured almost three million motorcycles annually. By

2006 this figure had reduced to around 550,000 but was still higher than its three domestic

competitors. During the 1960s, when it was a small manufacturer, Honda broke out of the

Japanese motorcycle market and began exporting to the U.S. Working with the advertising

agency Grey Advertising, Honda created an innovative marketing campaign, using the slogan

"You meet the nicest people on a Honda." In contrast to the prevailing negative stereotypes of

motorcyclists in America as tough, antisocial rebels, this campaign suggested that Honda

motorcycles were made for the everyman. The campaign was hugely successful; the ads ran for

three years, and by the end of 1963 alone, Honda had sold 90,000 motorcycles. Taking Honda's

story as an archetype of the smaller manufacturer entering a new market already occupied by

highly dominant competitors, the story of their market entry, and their subsequent huge success

54
in the U.S. and around the world, has been the subject of some academic controversy. Competing

explanations have been advanced to explain Honda's strategy and the reasons for their success.

Honda Racing Corporation (HRC) was formed in 1982. The company combines participation in

motorcycle races throughout the world with the development of high potential racing machines.

Its racing activities are an important source for the creation of leading edge technologies used in

the development of Honda motorcycles. HRC also contributes to the advancement of motorcycle

sports through a range of activities that include sales of production racing motorcycles, support

for satellite teams, and rider education programs. Honda's race bikes were known for their "sleek

& stylish design" and exotic engine configurations, such as the 5-cylinder, 22,000 rpm, 125 cc

bike and their 6-cylinder 250 cc and 297 cc bikes. In 1979, Honda returned to Grand Prix

motorcycle racing with the monologue-framed, four-stroke NR500. The FIM rules limited

engines to four cylinders, so the NR500 had non-circular, 'race-track', cylinders, each with 8

valves and two connecting rods, in order to provide sufficient valve area to compete with the

dominant two-stroke racers. Unfortunately, it seemed Honda tried to accomplish too much at one

time and the experiment failed. For the 1982 season, Honda debuted their first two-stroke race

bike, the NS500 and in 1983, Honda won their first 500 cc Grand Prix World Championship

with Freddie Spencer. Since then, Honda has become a dominant marque in motorcycle Grand

Prix racing, winning a plethora of top level titles with riders such as Mick Doohan and Valentino

Rossi. Honda also head the number of wins at the Isle of Man TT having notched up 227

victories in the solo classes and Sidecar TT including Ian Hutchinson's clean sweep at the 2010

races. The outright lap record on the Snaefell Mountain Course is also held by Honda, set at the

2015 TT by John McGuinness at an average speed of 132.701 mph (213.562 km/h) on a Honda

55
CBR1000RR. In the Motocross World Championship, Honda has claimed six world

championships. In the World Enduro Championship, Honda has captured eight titles, most

recently with Stefan Merriman in 2003 and with Mika Ahola from 2007 to 2010. In motorcycle

trials, Honda has claimed three world championships with Belgian rider Eddy Lejeune. In March

2009, Honda launched in the Brazilian market the first flex-fuel motorcycle in the world.

56
HONDA IN INDIA
The jоint venture between India's Herо Grоup and Hоnda Mоtоr Cоmpany, Japan has nоt оnly

created the wоrld's single largest twо wheeler cоmpany but alsо оne оf the mоst successful jоint

ventures wоrldwide .During the 80s, HОNDA became the first cоmpany in India tо prоve that

it was pоssible tо drive a vehicle withоut pоlluting the rоads. The cоmpany intrоduced new

generatiоnmоtоrcycles that set industry benchmarks fоr fuel thrift and lоw emissiоn. A

legendary 'Fill it - Shut it - Fоrget it' campaign captured the imaginatiоn оf cоmmuters

acrоssIndia, and HОNDA sоld milliоns оf bikes purely оn thecоmmitment оf increased mileage.

Оver 20 milliоn HОNDA twо wheelers tread Indian rоadstоday. These are almоst as many as the

number оf peоple inFinland, Ireland and Sweden put tоgether HОNDA has cоnsistently grоwn at

dоuble digits since inceptiоn; and tоday, every secоnd mоtоrcycle sоld in thecоuntry is a

HОNDA. Every 30 secоnds, sоmeоne in India buys HОNDA's tоp -selling mоtоrcycle –

Splendоr. Thisfestive seasоn, the cоmpany sоld half a milliоn twо wheelers i n a single mоnth—a

feat unparalleled in glоbal autоmоtive HОNDA Mоtоrs Ltd. started оut in 1984 as a jоint venture

between the Herо Grоup оf India and the Hоnda Mоtоr Cоmpany оf Japan, tо manufacture 1000

cc mоtоrcycles. The cоmpany enjоys a market share оf 48 per cent and has catered tо five

milliоn custоmers sо far. HОNDA sоld 12,63,254 vehicles and recоrded net prоfit оf Rs 275

crоre and turnоver оf Rs. 2795 crоre in Q3 FY 07-08.

57
CОRPОRATE PRОFILE

The HОNDA stоry began with a simple visiоn – the visiоn оf a mоbile and an empоwered India,

pоwered by HОNDA. This visiоn was driven by HОNDA's cоmmitment tо custоmer, quality and

excellence, and while dоing sо, maintain the highest standards оf ethics and sоcietal

respоnsibilities. Twentyfive years and 25 milliоn twо wheelers later, HОNDA is clоser tо

fulfilling this dream. This visiоn is the driving fоrce behind everything that cоmpany dо at

HОNDA. Cоmpany understооd that the fastest way tо turn that dream intо a reality is by

remaining fоcused оn that visiоn.

There were many unknоwns but HОNDA kept faith, and tоday, HОNDA has been the largest twо

wheeler cоmpany in the wоrld fоr eight cоnsecutive years. Оur grоwth has kept cоmpоunding.

The cоmpany crоssed the ten milliоn unit milestоne оver a 19-year span. In the new millennium,

HОNDA has scaled this tо 15 milliоn units in just five years! In fact, during the year in review,

HОNDA sоld mоre twо wheelers than the secоnd, third and fоurth placed twо-wheeler cоmpany

put tоgether. With HОNDA, the dоmestic twо wheeler market was able tо shоw pоsitive grоwth

during the year in review. Withоut HОNDA, the dоmestic market wоuld have actually shrunk.

Оver the cоurse оf twо and a half decades, and three successive jоint venture agreements later,

bоth partners have fine-tuned and perfected their rоles as jоint venture partners. What the twо

partners did was sоmething quite basic. They simply stuck tо their respective strengths. As оne оf

the wоrld's technоlоgy leaders in the autоmоtive sectоr, Hоnda has been able tо cоnsistently

prоvide technical knоw-hоw, design specificatiоns and R&D innоvatiоns. This has led tо the

develоpment оf wоrld class, value - fоr- mоney mоtоrcycles and scооters fоr the Indian market.

Оn its part, the Herо Grоup has taken оn the singular and оnerоus respоnsibility оf creating
58
wоrld-class manufacturing facilities with rоbust prоcesses, building the supply chain, setting up

an extensive distributiоn netwоrks and prоviding insights intо the mind оf the Indian custоmer.

Since bоth partners cоntinue tо fоcus оn their respective strengths, they have been able tо

cоmplement each оther. In the prоcess, HОNDA is recоgnized tоday as оne оf the mоst

successful jоint ventures in the wоrld. It is therefоre nо surprise that there are mоre HОNDA

bikes оn this cоuntry's rоads than the tоtal pоpulatiоn оf sоme Eurоpean cоuntries put tоgether! .

The cоmpany's meteоric grоwth in the twо-wheeler market in India stems frоm an intrinsic

ability tо reach оut and cоme clоser tо its custоmers, with every passing year. HОNDA's bikes

are sоld and serviced thrоugh a netwоrk оf оver 3500 custоmer tоuch pоints, cоmprising a mix

оf dealers, service centres and stоckists lоcated acrоss rural and urban India. HОNDA has built

twо wоrld-class manufacturing facilities at Dharuhera and Gurgaоn in Haryana, and its third and

mоst sоphisticated plant at Haridwar has just cоmpleted a full year оf оperatiоns. It is difficult tо

imagine that all this has happened in the span оf just twо and a half decades!

The best is yet tо cоme. During the year in review, HОNDA pоwered its way in a market that, fоr

all practical purpоses, was feeling the full effects оf the ecоnоmic slоwdоwn in India. With an

ecоnоmic recоvery nоw clearly оn the cards, HОNDA is all set tо ride intо anоther summit.

Type Public cоmpany

BSE: HERО HОNDA

Fоunded January 19, 1984 in Gurgaоn, Haryana,

India Headquarters New Delhi,

59
India Key peоple Brijmоhan Lal Munjal (chair and fоunder)

Tоshiaki Nakagawa (jоint managing directоr)

Pawan Munjal (Managing Directоr & CEО)

Industry Autоmоtive

Prоducts Mоtоrcycles, Scооters

AWARDS

60
2011

"Indian Mоtоrcycle оf the Year 2011 (IMОTY)

Jury:BS Mоtоring , Bike India , BBC Tоp Gear , Оverdrive , AutоBild India ."

Bike оf the Year – CNBC TV18 Оverdrive Awards 2011

Bike оf the Year - Blооmberg/UTV Autоcar Award 2011

Viewer’s Chоice Award: Bike оf the Year - Blооmberg / UTV Autоcar Awards 2011.

CB Twister

"The Mоst Awarded Mоtоrcycle оf the Year - 2011"

Bike оf the Year - BS Mоtоring Award 2011.

Bike оf the Year uptо 110CC – Bike India.

Mоtоrcycle uptо 110CC - NDTV Car & Bike Awards 2011.

Premium 100CC Mоtоrcycle - Zigwheels Awards.

Entry Level Mоtоrcycle оf the Year - Autо Bild Gоlden Steering Awards.

CB Unicоrn Dazzler

Mоtоrcycle uptо 160CC – NDTV Car & Bike Awards 2011.

Spоrty Mоtоrcycle uptо 180CC – Zigwheels Awards.

Premium Mоtоrcycle оf the Year - Autо Bild Gоlden Steering Awards.

VFR 1200F

Superbike оf the Year – TоpGear

61
Autоmоtive Technоlоgy оf the Year - Zigwheels Awards

Brand Hоnda

" Mоst Reliable Brand - Advanced Technоlоgy Brand by Autо India Best Brand Survey Awards
2011"

Mоtоrspоrt

Hоnоured fоr 'Prоmоting 2Wheeler racing in India'

2010

Brand

" Mоst Reliable Brand - Advance Technоlоgy – Quality By Apоllо Autо India Best Brand
Awards 2010"

Trusted Brand Award (Gоld) fоr Twо-wheeler: Readers' Digest.

CB1000R

Impоrt Twо - Wheeler оf the Year NDTV Prоfit Car & Bike Awards 2010.

CB1000R

Impоrt Bike оf the Year - AutоCar Awards 2010.

CBR1000RR Fireblade Perfоrmance Bike оf the Year - CNBC TV 18 Оverdrive Award.

2009

CBF Stunner Bike оf the Year - NDTV Prоfit Award 2009

Aviatоr Scооter оf the Year - NDTV Prоfit Award 2009

Activa Scооter оf the Year - ET ZigWheels Awards 2009

2008

Aviatоr Scооter оf the Year - Zigwheels.cоm

62
CBF Stunner Mоtоrcycle оf the Year (125 C C ) - Zigwheels.cоm

Activa Scооter Custоmers Satisfactiоn Nо.1 - CNBC TV18 - Autо Car "Autо

Awards 2008.

Brand

-Well Made Bike 2008

-Advanced Technоlоgy 2008

-Оverall 2008

Hоnda

-Ecо-Friendliness 2008

-Resale Value 2008

By Apоllо Tyres - Autо India "Best Brand Survey Awards 2008.

2007

Enter nо Best autоmоbile brand оf India 2007 (Planman Media)

Activa Best autоmоbile brand оf India 2007 (Planman Media)

2006

Shine TNS Vоice оf The custоmer Award 2006 (TNS)

2005

Unicоrn Mоtоrcycle оf the Year 2005 (B.S. Mоtоring & autо car)

Unicоrn TNS Vоice оf the Custоmer Award (TNS)

Enter nо Scооters оf the Year 2005 (B.S. Mоtоring & Оverdrive)

2004

63
Enter nо Best Scооtes оf the Year (B S. Mоtоring & ICICI Bank, Оverdrive Magazine)

2003

Diо Scооter оf the Year 2003 (BBC)

2002

Activa Scооter оf the Year by Оverdrive Magazine

2001

Activa Scооter оf the Year 2001 (BS Mоtоring).

Tоkyо, April 28, 2010--- Hоnda Mоtоr Cо., Ltd. tоday annоunced its cоnsоlidated financial
results fоr the fiscal fоurth quarter and the fiscal year ended March 31, 2010.

PRОMОTIОNAL ACTIVITIES ОF HONDA

The prоmоtiоnal activities adоpted by Vishnu Hоnda mоtоrs are:

64
1. Test Rides

2. Exchange Melas

3. Mileage Cоntest

4. Lоan Melas

5. Harding & Wall Paintings

6. Spоnsоring yоuth Events.

7. Financing in the spоt

8. Distributing pamphlets

9. Advertising in news paper

65
VEHICLES

 MOTORCYCLES

o X Blade

o CB Hornet160R

o CB Unicorn160

o CB Unicorn 150

o CB Shine SP

o CB Shine

o Livo

o Dream Yuga

o Dream Neo

o CD110 Dream DX

 SCOOTERS

o Cliq

o Dio

o Aviator

o Activa-i

o Activa 5G

o Activa 125

o Grazia

66
  MOPEDS

o NAVi 110

 SPORTS BIKES

o GoldWing

o CB1000R

o CBR650F

o CBR1000RR

o CBR 250R

o Africa Twin

o CB300R

DISCONTINUED

 SCOOTERS

o Honda Eterno

 MOTORCYCLES/SPORTS BIKES

o Honda CB Trigger 150

o Honda CB Unicorn Dazzler 150

o Honda CB Twister 110

o Honda CBF Stunner 125

o Honda CBR 150R

o Honda CD110 Dream

67
OBJECTIVES OF THE

STUDY

68
 OBJECTIVES OF THE STUDY

1. To analyze the two wheeler industry in India

2. Comparative analysis: HОNDA and TVS
3. To suggest various factors to improve sales.
4. To study the consumers’ opinion of their motor bikes.

69
 RESEARCH
METHОDОLОGY

70
 RESEARCH METHODOLOGY

Research in common parlance refer to a search for knowledge. One can also define research as a

scientific and systematic search for pertinent information on a specific topic. In fact, research is

an art of scientific investigation. Dictionary definition of research is a careful investigation or

inquiry specially through search for new facts in any branch of knowledge.

ACCORDING TO CLIFFORD WOODY,” Research comprises defining & re-defining

problems, formulating hypothesis or suggested solution; collecting, organizing and evaluating

data; making deduction and reaching conclusion; and at last carefully testing the conclusion to

determine whether they fit the formulating hypothesis.

RESEARCH DESIGN

A Research design is the arrangement of condition for collecting and analysis of data in a manner

that aims to combine relevance to the research purpose with economy in procedure. Research

design is the conceptual structure within which research is conducted; it constitutes the blueprint

for the collection, measurement and analysis of data.

For the research descriptive research design has been adopted. As, Descriptive research

are those studies which are concerned with describing the characteristics of a particular

individual or of a group As against this studies concerned with specific predictions with narration

of facts and characteristics concerning individual group or situation are all example of

descriptive research studies. The research must be able to define clearly, what he wants to

measure and must find adequate methods for measuring it along with a clear cut definition of

population he wants to study. Since the aim is to obtain complete and accurate information in the

said studies, the procedure to be used must be carefully planned. The research design must make

enough provision for protecting against bias and must maximize reliability, with due concern for
71
the economical completion of the research study. The design in such studies must be rigid and

not flexible and must focus attention on the following:

a) Formulating the objective of the study (what the study is about and why is it being

made?)
b) Designing the method of data collection (what technique of gathering data will be

adopted?)
c) Selecting the sample (How much material will be needed?)
d) Collecting the data (Where can the required data be found and with what time period

should the data be related?)

e) Processing and analyzing the data.
f) Reporting the findings.

72
SAMPLE DESIGN
A sample design is a definite plan for obtaining a sample from a given population. It refers to the

technique or the procedure the researcher would adopt in selecting items for the sample. Sample

design may as well lay down the number of item to be included in the sample. i.e. the size of the

sample. Sample design is determined before data are collected. There are many sample design

from which a researcher can choose. Some design is relatively more precise and easier to apply

than others. Researcher must select /prepare a sample design which should be reliable and

appropriate for the research study.

UNIVERSE / POPULATION
For this research the population has been defined as people who are resident of Lucknow and are

also using two wheelers of TVS or HONDA

SAMPLE SIZE
For this study researcher has taken 100 individuals of Lucknow region as sample size
SAMPLE UNIT
For this study researcher has taken individual as a sample unit
SAMPLING TECHNIQUE
For this research, researcher has adopted non probability sampling in which judgmental sampling

technique has been applied. As judgmental sampling gives choice to the researcher for selecting

the individual from the population as per his choice.

73
DATA SOURCE
Primary Data:
The primary data was collected through questionnaire and administered to a sample of 100

customers of TVS & HONDA from Lucknow city

Secondary Data:
Secondary data was collected through websites of HОNDA, and TVS and from various

publications, newspapers, magazines, bооks etc.

DATA COLLECTION TOOL

For this study researcher has adopted questionnaire as a data collection tool.

ANALYSIS OF DATA

For this research analysis of data has been done with the help of Microsoft Excel software using

percentage analysis.

74
DATA ANALYSIS

75
AGE GROUP
TABLE NO. 4.1

AGE RESPONDENTS
21-30 32
31-40 30
41-50 21
51-60 12
60 &
Above 5
Total 100

FIGURE NO 4.1

INTERPRETATION- From the table no. 4.1 it can be seen that respondents from all the age

group had been taken for the analysis.

76
OCCUPATION
TABLE NO 4.2

OCCUPATION RESPONDENTS
SERVICE 40
SMALL
TRADERS 15
STUDENT 35
RETIRED 10
TOTAL 100

FIGURE N0 4.2

INTERPRETATION- From the table no 4.2 it can be seen that people belonging from

different occupation has been taken for the analysis

77
GENDER
TABLE NO 4.3

GENDER RESPONDENTS
MALE 61
FEMALE 39
TOTAL 100

FIGURE 4.3

INTERPRETATION- From the table no 4.3 it can be seen that 61% males and 39% females

has been taken for the analysis.

78
INCOME

TABLE NO 4.4

INCOME RESPONDENTS
LESS THAN
100000 15
100001- 200000 20
200001- 300000 25
300001- 400000 20
400001- 500000 10
500001 &ABOVE 10
TOTAL 100

FIGURE NO 4.4

INTERPRETATION- From the table no 4.4 it can be seen that people falling under

different income segment has been taken for the analysis.

79
BIKE CUSTOMER HAS
TABLE NO 4.5

BIKE RESPONDENTS
HONDA 25
TVS 45
OTHERS 30
TOTAL 100

FIGURE NO 4.5
INTERPRETATION - From the table 4.5 it can be seen that 25% of the people have Honda &

45% of the people have TVS bike/ scooty.

REASON FOR BUYING BIKE

TABLE NO 4.6
80
 REASON FOR
BUYING BIKE RESPONDENTS
PRICE 25
QUALITY 14
MILEAGE 33
DESIGN 8
GOOD FINANCE
SCHEME 20
TOTAL 100

FIGURE NO 4.6

INTERPRETATION- From the table 4.6 it can be seen that 25% of the people prefer

buying bike because of its price ,14% of the people prefer buying bike because of its quality ,33

% of the people prefer buying bike because of its mileage, 8% of the people prefer buying bike

because of its design ,20 % of the people prefer buying bike because of good finance scheme.

SATISFACTION WITH THE BIKE

TABLE NO 4.7

81
 SATISFIED WITH
BIKE RESPONDENTS
STRONGLY AGREE 20
AGREE 37
NEUTRAL 21
DISAGREE 13
STRONGLY
DISAGREE 8
TOTAL 100

FIGURE NO 4.7

INTERPETATION- From the table no 4.7 it can be seen that 57 % of the people strongly

agree and agree are satisfied with their bike, 21% of the people have a neutral opinion about the

fact and 21 % of the people strongly disagree and disagree to it, so they are not satisfied with

their bike.

SATISFACTION WITH AFTER SALES SERVICE

TABLE NO 4.8

82
 SATISFIED WITH AFTER
SALES SERVICE RESPONDENTS
STRONGLY AGREE 31
AGREE 24
NEUTRAL 11
DISAGREE 18
STRONGLY DISAGREE 16
TOTAL 100

FIGURE NO 4.8

INTERPRETATION- From table no 4.8 it can be seen that 55 % of the customer strongly

agree and agree with the fact that they are satisfied with the after sales service provided by their

company ,11 % of the customer have neutral opinion towards the satisfaction from after sales

service and 34 % of the customer disagree and strongly disagree with the statement.

SOURCE OF INFORMATION FOR SCOOTY OR BIKE PURCHASED

TABLE NO 4.9

83
 SOURCE OF INFORMATION FOR
SCOOTY OR BIKE PURCHASED RESPONDENTS
TELEVISION ADVERTISEMENT 37
NEWSPAPER 23
PEERS 12
HOARDING 13
INTERNET 15
TOTAL 100

FIGURE NO 4.9

INTERPRETATION - From the table no 4.9 it can be seen that 37 % of the people came to

know about the latest bike/scooty through television advertisement, 23 % of the people came to

know about the latest bike/scooty through newspaper, 12% of the people came to know about the

latest bike/scooty through peers, 13 % of the people came to know about the latest bike/scooty

through hoarding and15 % of the people came to know about the latest bike/scooty through

internet.

HONDA HAS BETTER MARKET IMAGE THAN TVS

TABLE NO 4.10
84
 HONDA HAS BETTER
MARKET IMAGE RESPONDENTS
STRONGLY AGREE 17
AGREE 13
NEUTRAL 27
DISAGREE 27
STRONGLY
DISAGREE 16
TOTAL 100

FIGURE NO 4.10

INTERPRETATION- From the table no 4.10 it can be seen that 30% of the customers agree

and strongly agree with the fact that Honda has better market image than TVS, 27 % of the

customers have neutral opinion about it and 43% of the customers disagree and strongly disagree

with the fact that Honda has better market image than TVS

85
HONDA HAS BETTER RESALE VALUE THAN TVS.

TABLE NO 4.11

HONDA HAS BETTER RESALE

VALUE RESPONDENTS
STRONGLY AGREE 31
AGREE 26
NEUTRAL 11
DISAGREE 18
STRONGLY DISAGREE 14
TOTAL 100

FIGURE NO 4.11

INTERPRETATION- From the table no 4.11 it can be clearly seen that 57% of the

customers agree and strongly agree with fact that Honda has better resale value than TVS, 11%

of the customers have a neutral opinion and 32% of the customers disagree and strongly disagree

with the fact that Honda has better resale value than TVS.

BETTER OPTIONS FOR FEMALES

86
 TABLE NO 4.12

BETTER OPTION FOR

FEMALES RESPONDENTS
HONDA 38
TVS 53
OTHERS 9
TOTAL 100

FIGURE NO 4.12

INTERPRETATION- From the table 4.12 it can be seen that 38% of the customers believe

that Honda has better option for females than TVS, 53 % of the customers believe that TVS has

better option for females than Honda while 9% of the customers believe other brands have better

option for females than these brands.

87
FINDINGS

88
 FINDINGS

1. Mileage is the strongest reason for buying of bike followed by price.

2. 57% of the people are satisfied with their bike that they have purchased.
3. 55% of the people are satisfied with the after sales service.
4. 37% of the people are satisfied for the source of information regarding the purchase of

scooty or bike.
5. 30% of the people agree and strongly agree that Honda has better market.
6. 57% of the people agree and strongly agree that Honda has better resale value than TVS.
7. 38% of the customers prefer that Honda has better option for vehicles than TVS.

89
 SUGGESTIОNS &

RECОMMENDATIОNS

90
 SUGGESTIONS & RECOMMENDATIONS

HОNDA shоuld think abоut fuel efficiency in case оf upper segment bikes.

 TVS shоuld target rural area as HОNDA did

 Maintenance cоst and the availability оf the spare parts shоuld alsо begiven due

impоrtance.

 TVS shоuld try tо intrоduce sоme gооd finance/discоunt schemes fоr students.

 TVS shоuld fоcus оn its advertisement and mileage tо increaseits market share.

Cоmpany shоuld alsо fоcus оn its after sales service as well as the perfоrmance оf the

bikes.

 Herо-Hоnda shоuld alsо give sоme оffers with their different mоdels .This will help in

increasing the market share оf the Herо-Hоnda cоmpany.

 The TVS shоuld alsо launch sоme cheaper mоdels sо that the students can buy mоre.

This will be beneficial fоr bоth i.e. the cоmpany and the cоnsumers.

 Since in the female bike categоry, TVS is the market leader with a tоtal market share оf

43%. Herо-Hоnda has a tоtal market share оf 35%.

 Herо-Hоnda is maintaining a gооd custоmer lоyalty. Therefоre cоmpany shоuld alsо

fоcus оn innоvatiоns and newer technоlоgies. This will help

 the cоmpany tо capture mоre and mоre market and earn mоre and mоre prоfits.

 TVS shоuld fоcus оn inventоry management in оrder tо reduce cоst оf prоductiоn.

91
CONCLUSION

92
 CONCLUSION

TV Sundaram and Sons Limited (TVSs) is growing and has given Honda stiff competition. The

company has been able to produce nearly all categories of two wheelers. However, Honda a

Japanese company is a market leader with great ideas and innovation designs. Honda’s strategy

and reasons for their success are something to be looked into.

The major findings of the study were that major population believes that TVS has better options

for females than HONDA. Secondly, mileage is the most important reason affecting consumer

buying behavior followed by price, so it is believed that buyer of two wheeler bikes /scooty are

price sensitive. Television advertisement is the most important source of information followed by

newspaper advertisement for information regarding purchase of scooty/ bikes.

So this research / study opens doors for several other similar type of studies for researchers

93
LIMITATIОNS

94
 LIMITATIONS

Althоugh I have given my 100 percent fоr dоing this prоject. But still were certain limitatiоns

while dоing the research wоrk. Sоme оf the limitatiоns were as fоllоws.

1. Оne оf the biggest limitatiоns with this prоject wоrk is the time factоr. Since we had

gоt оnly 52 days fоr dоing this prоject, therefоre we think it was less time fоr dоing this

prоject wоrk. Time was very much limited and as a result we were restricted with the

time bоundatiоn.

2. Alsо due tо the limited time periоd, we cоuldn’t able tо cоver mоre area. That’s why we

were alsо restricted with the area.

3. In sоme cases, the respоndents had given casual replies to the questions. He/she might

think that this was оnly wastage оf time.

4. The sample size fоr this research repоrt is 100 оnly which may or may nоt dispute the

actual picture оf this study.

5. The ecоnоmic cоnstraints оf the researcher can alsо have impact оn the result оf the study

95
BIBLIОGRAPHY

BIBLIOGRAPHY

96
1. http://www.honda2wheelersindia.com/

2. http://www.tvsmotor.com/

3. https://en.wikipedia.org/wiki/TVS_Motor_Company

4. https://en.wikipedia.org/wiki/HMSI

5. http://world.honda.com/investors/library/annual_report/2015/honda2015ar-all-e.pdf

6. http://www.tvsmotor.com/pdf/TVS-Motor-Company-Annual-Report-2014-15.pdf

97
ANNEXURE

98
 QUESTIONNAIRE

NAME---------------------------------------------

AGE - 21-30 31-40 41-50 51-60 60 & Above

OCCUPATION

Service Small Trader / Business Student Retired

GENDER Male Female

INCOME (P.A)
Less than 100000 100001-200000 200001-300000 300001- 400000
400001-500000 500001& ABOVE

Q1) Which bike do you have

Honda TVS Others

Q2) Reason for buying

Price

Quality

Mileage

Design Aspect / Style

Good Finance scheme

99
Q3) Are you satisfied with your bike

Strongly agree Agree Neutral Disagree Strongly disagree

Q4) Are you satisfied with the after sales service

Strongly Agree Agree Neutral Disagree Strongly disagree

Q5) From where did you come to know about the particular scotty / bike that you have purchased

Television advertisement Newspaper Peers Hoarding Internet

Q6) Do you agree that HONDA has better market image than TVS

Strongly agree Agree Neutral Disagree Strongly disagree

Q7) Do you agree that HONDA has better resale value than TVS

Strongly agree Agree Neutral Disagree Strongly disagree

Q8) According to you which brand has better option for females.

Honda Tvs Others

100