Now fixing a broken car would be just a call away in Gujarat, as TVS Automobile Solutions (TASL) enters the Gujarat market in a joint venture with the promoters of local automotive components player ABC Bearings. Apart from multi-brand car servicing, TASL also offers 24X7 emergency roadside assistance for cars that have broken down.
The 70:30 joint venture with TASL having controlling stake, is planning to set up 13-15 outlets across Gujarat over the next two to three years with an investment of around Rs 30 crore. The company is targeting to achieve a turnover of Rs 40-50 crore in Gujarat in three year's time. The first TASL outlet in the state will come at Subhanpura in Vadodara, followed by Ahmedabad, Surat, Bharuch, Rajkot, Vapi, Valsad, Jamnagar, Bhavnagar, Himmatnagar among others.
"We offer the entire range of solutions that a car owner needs except car sales. We are present in all the downstream activities after sales, from servicing to insurance to maintenance and repair", said R Srivatchan, president, TASL. The company has two business verticals, 24x7 emergency services and all-car service (ACS) through current network of outlets. It handles around 12,000 breakdown calls every month and services them through a network of 3500 authorised service providers across 1681 cities.
At present, the share of revenue among the two verticals is in a 50:50 ratio. "However, going forward, in three year's time, with expansion of workshops and outlets, the ACS vertical would constitute nearly 70 per cent of our revenues, while 20 per cent would be from 24X7 emergency services, and the remaining 10 per cent from insurance and accessories", Srivatchan said. TASL plans to touch revenues of Rs 450-500 crore in three year's time.