New Delhi, May 11 (PTI) Two-wheeler major TVS Motor Company has tied-up with Guatemala-based MASESA (Mayor Servicios Socieda Anonima), to distribute its products in five countries across Central America. Also Read - 'Love Wins': As Costa Rica Legalizes Same-Sex Marriage, Lesbian Couple Ties the Knot At Midnight
As part of the agreement, MASESA will develop exclusive TVS Motor Company concessionaires in Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica. Also Read - Pope defends migrants, marginalised
MASESA, which is a leader in the commercialisation of motorcycles and Tuk Tuks in the region, will sell various TVS products, including two-wheelers and three-wheelers from its 500 dealerships throughout the region. Also Read - Tear gas fired as dozens of migrants try illegal crossing to US
TVS models like Scooty Zest, Wego, Apache bikes and three-wheelers would be marketed by MASESA as part of the agreement.
“The unique network of distribution that MASESA has developed makes them the best strategic ally for the company,” TVS Motor Company Senior Vice President- International Business R Dilip said in a statement.
With this alliance, the company will be able to personalise its value offers and provide the right products for future clients throughout Central America, he added.
TVS will produce bikes and scooters for the region at its existing plants while some models would also be sourced from the company’s Indonesia plant at a later date.
MASESA currently operates through a network of 500 touch points throughout the region. The company would also manage spare parts and service centers, guaranteeing adequate support to the Indian company.
The two-wheeler market in Central America is nearly half a million units per annum. In terms of value the market is close to USD 250 million annually.
Currently, TVS Motors gets around 22 per cent of its total revenues from exports and is looking to substantially increase in the times to come.
This is published unedited from the PTI feed.