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In January 2003, United Motor Lanka Ltd and TVS Sons India entered into a Joint Venture agreement and subsequently TVS Lanka (Private) Ltd. was incorporated to handle the TWO WHEELER OPERATIONS of TVS Motor Co. Ltd., India. TVS Lanka became the sole distributor and dealers for the TVS Motor Company for Sri Lanka.
United Motors Lanka Ltd. (UMLL) is the largest Automobile Company in Sri Lanka and is the local distributors for Mitsubishi Motor Co, Japan, Valvoline range of automotive lubricants, Yokohama tires etc. UMLL established a world record for vehicle sales in 2001 by reaching a market share of 47% and continues to be market leaders.
As a strategy for growth, the management looked at neighboring India to expand the company’s scope in the local Auto Industry and consequently decided to enter into a JV with the TVS Group which is one of the largest Auto Distributor Company & Parts Manufacturer. With close ties prevalent between the governments of India & SL and also the FTA and the Indian Line of Credit through which a quantity of over 600 SUV’s were brought in for the very first time in SL last year, the prospects for Auto parts seemed very bright.
TVS Lanka (Pvt.) Ltd. reached a turnover of One Billion within the first year of operation. The company also expanded their network within a very shot period and appointed 100 dealers for sales. The company also provided the service needs by appointing 205 service points.
United Motors Lanka Ltd. (UMLL) is the largest Automobile Company in Sri Lanka and is the local distributors for Mitsubishi Motor Co, Japan, Valvoline range of automotive lubricants, Yokohama tires etc. UMLL established a world record for vehicle sales in 2001 by reaching a market share of 47% and continues to be market leaders.
As a strategy for growth, the management looked at neighboring India to expand the company’s scope in the local Auto Industry and consequently decided to enter into a JV with the TVS Group which is one of the largest Auto Distributor Company & Parts Manufacturer. With close ties prevalent between the governments of India & SL and also the FTA and the Indian Line of Credit through which a quantity of over 600 SUV’s were brought in for the very first time in SL last year, the prospects for Auto parts seemed very bright.
TVS Lanka (Pvt.) Ltd. reached a turnover of One Billion within the first year of operation. The company also expanded their network within a very shot period and appointed 100 dealers for sales. The company also provided the service needs by appointing 205 service points.
Visit the Site http://www.tvslanka.lkCategory = Transportation Site ID :581
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