R Dinesh, Director, TVS ASPL said India’s $10 billion aftermarket segment is fragmented and needs strong support for relevance and growth amid changing technology landscape in the automotive sector.
"We are taking this opportunity to bring thousands of entrepreneurs on to a digital platform through which they can benefi from technologies across marketing, diagnostics, customer experience, quality parts, access to training and digital payments. I am sure this partnership will be a win-win proposition for all stakeholders.”
V S Parthasarathy, President, Mobility Services Sector, Mahindra Group said, “MFCSL has developed a large, trusted, multi-brand car service franchise and distribution network over the years. Our focus on quality and customer satisfaction has ensured that we continue to deliver superior value to our customers and channel partners.”
G Srinivasa Raghavan, Managing Director, TVS ASL added, “myTVS has created a digital platform and ecosystem for over 2,500 garages especially across South India. With MFCSL, we will have an opportunity to create a pan India digital footprint."
He said that the company will continue to invest and expand its network to over 10,000 garages in the next 18-24 months.
"It is imperative that we take this positioning to help organise the fragmented garage ecosystem so that we can continue to provide superior customer experience to the growing automotive population and help these garages by making them future ready,” Raghavan asserted.
The Indian independent automotive aftermarket has been growing at a CAGR of 7-10 per cent over the past five years. The market is highly fragmented with over 40,000 retailers, 100,000 garages and thousands of small distributors across the country.
MFCSL has established a pan-India network of 475-plus franchise partners and 100-plus distributors in over 350 towns across 25 states and two union territories.
TVS ASL has, over the years, empowered two million customers, 20,000 retailers and 10,000 garages, along with fleet management for over 70,000 vehicles. By bringing these stakeholders into a seamless supply chain and technology platform, TVS ASL ensures delivery of service or parts within 24 hours across the country.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.