InFocusInsurance

Proposed Insurance Premium Hike for Two-Wheelers Will Be a Dent on Indian Automobile Consumers Sentiments: Radhakrishnan of TVS Motors

"As the customer continues to struggle with an increase in the cost of ownership, the recently announced hike of Rs 2,200 per vehicle in third party insurance cost will further dent the efforts of the industry to recover itself from this challenging market situation. Further, a strong domestic industry is the basis of global competitiveness and every effort must be made to have a vibrant local market," says KN Radhakrishnan, Director and CEO, TVS Motor Company.

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“The automobile industry has been impacted by a series of headwinds, leading to a steady increase in two-wheeler prices. In addition to the pandemic woes, the ongoing shortage of semi-conductor chip, high raw material cost, and increasing fuel prices, have impacted demand. As the customer continues to struggle with an increase in the cost of ownership, the recently announced hike of Rs 2,200 per vehicle in third party insurance cost will further dent the efforts of the industry to recover itself from this challenging market situation. Further, a strong domestic industry is the basis of global competitiveness and every effort must be made to have a vibrant local market,” – K N Radhakrishnan, Director and CEO, TVS Motor Company.

TVS Motor Company is a reputed two and three-wheeler manufacturer globally, championing progress through Sustainable Mobility with four state-of-the-art manufacturing facilities in Hosur, Mysuru and Nalagarh in India and Karawang in Indonesia. Rooted in our 100-year legacy of Trust, Value, and Passion for Customers and Exactness, we take pride in making internationally aspirational products of the highest quality through innovative and sustainable processes. We are the only two-wheeler company to have received the prestigious Deming Prize.

Our products lead in their respective categories in the J.D. Power IQS and APEAL surveys. We have been ranked No. 1 Company in the J.D. Power Customer Service Satisfaction Survey for consecutive four years. Our group company Norton Motorcycles, based in the United Kingdom, is one of the most emotive motorcycle brands in the world.

Our subsidiaries in the personal e-mobility space, Swiss E-Mobility Group (SEMG) and EGO Movement have a leading position in the e-bike market in Switzerland. TVS Motor Company endeavours to deliver the most superior customer experience across 80 countries in which we operate.

SMEStreet Edit Desk

SMEStreet Edit Desk is a small group of excited and motivated journalists and editors who are committed to building MSME ecosystem through valuable information and knowledge spread.

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