Bangalore: Two-wheeler major TVS Motor Company sold 2.73 lakh units during the first quarter (April-June) of 2002-03, up 40 per cent compared to the same period last year, and is actively looking at setting up a manufacturing plant in South East Asia, top company officials said on July 8.

Motor-cycles accounted for 1.6 lakh units, a growth of 75 per cent, while TVS's other offerings such as scooters, scooterettes and mopeds grew "marginally". Overall growth in sales of units is 40 per cent, the company's vice-president (sales and marketing), R Chandramouli, said.

Chandramouli said the company's top priority now is to increase the production of its highly successful Victor, a four-stroke 110 cc motorcycle, which currently has a booking period of two months across the country.

"Our focus is to increase production of Victor and supply to the market. Last month, we manufactured 24,000 units of Victor and now we plan to take it up to 40,000 by September," he said.

The company, part of the TVS group, has an annual turnover of Rs 1,800 crore and manufactures its motorcycles and mopeds at its Hosur facility near Bangalore and scooters and scooterettes at Mysore.

The company's president C P Raman said TVS is currently looking at Indonesia, Thailand and Vietnam for its entry into South East Asia, and indicated that a final decision in this regard is likely to be taken in three months.

A company team is currently on a visit to Indonesia to study the market there, he said.

"The team is studying the pluses and minuses of each country...volumes… benefits of each country...product requirements...and what should be the ultimate goal," Raman said.

The company is going about on the exports front in a "methodical way" and currently strengthening its presence in Sri Lanka and Bangladesh.

There were large buyers for TVS products in Argentina but with the collapse of that country's economy, there were setbacks, he hinted, but added that "we are reviving our efforts in South America".

PTI