Chennai, Aug 20 (IANS): Two and three wheeler maker TVS Motor Company Ltd hopes to sell around 10,000 units of its new Scooty Zest in a month's time while it would launch a motorcycle in six months, a top company official said Wednesday.

"We are targeting to sell 10,000 units in the first month. The model is available at our dealer showrooms," TVS chairman and managing director Venu Srinivasan told reporters here Wednesday.

According to him, the company would come out with a new Victor motorcycle in six months time.

In order to cash on the growing market for the scooter, TVS Motor has launched Scooty Zest - a 110cc scooter - priced at Rs.42,300 ex-showroom New Delhi.

According to Srinivasan, the scooter market is fastest growing segment now accounting for around 26 percent of the total two wheeler market and is expected to stabilise at around 30 percent.

TVS Motor has invested around Rs.70 crore in the development of Scooty Zest, which is targeted at the 18-25 women.

According to Srinivasan, the other Scooty models - Scooty Pep and Scooty Streak - would continue to exist as the entry level models.

For TVS Motor, Scooty is the most long standing and successful brand.

Srinivasan said TVS Motor started as a moped company is now a full fledged two wheeler maker with models across various segments.

"The moped market is not growing but stays at around 5.6 percent or 5.7 percent of the total two wheeler market," Srinivasan said.